Germantown-based Lightning Pick Technologies was recently acquired by Matthews International Corporation, a Pittsburgh memorials and graphics imaging manufacturer.
Lightning Pick, N114 W18770 Clinton Drive in Germantown, known as Professional Control Corporation until 2006, makes pick-to-light order fulfillment systems. An employee scans an order and the shelf location containing that product lights up for picking and packing. The systems allow for faster and more efficient picking at warehouses.
Milwaukee investment banking firm Cleary Gull acted as exclusive financial advisor for the acquisition. The deal was completed in August, for an undisclosed amount, said John Peterson, managing director of Cleary Gull.
While Matthews has traditionally focused on casket, urn and graphics imaging products, the company has been diversifying into the automated distribution market, he said.
“Matthews is in the process of acquiring a number of smaller companies around the country, and possibly internationally, that provide material handling automation,” Peterson said.
There will likely be a consolidation of the 51-employee Lightning Pick into a nearby company with complementary services that Matthews also recently acquired, he said. While Lightning Pick makes software, the other company makes hardware for order fulfillment, so it’s unlikely there would be any layoffs, Peterson said.
Lightning Pick’s president remained at the company in a senior executive position.
“We are excited about joining the Matthews International Group, which will only strengthen our Lightning Pick brand and solution set as a leader in the supply chain order fulfillment market,” said Jim Bast, general manager of Lightning Pick Technologies.
