Heritage Capital Group is pleased to announce that its client, The Grimes Companies, has been acquired by Peoples Services, Inc. Peoples is a third generation, family-owned company, that traces its history back to 1914, when it operated in Massillon, Ohio as a storage and moving company.
Peoples is an asset-based network of companies dedicated to providing third-party logistics services specializing in handling commodities from chemicals and plastics, to food grade (temperature controlled storage available), and consumer goods. Services include transloading bulk material from rail to bulk pneumatic tank trucks, drumming, packaging, repacking services, e-commerce fulfillment, inventory management, and transportation. The company operates over 35 facilities in six states: including Ohio, Michigan, North Carolina, South Carolina, Virginia, and West Virginia, and provides more than 6.5 million square feet of public and contract warehouse space.
Tommy Grimes, CEO of The Grimes Companies, said, “Heritage Capital was instrumental in conducting an effective and competitive transaction process that resulted in an ideal strategic partner. Bill Sorenson and his team proved to be extremely helpful to us during the many stages of the process of selling our company, and I am confident that The Grimes Company will continue delivering exceptional service and quality products to its customers. We are very pleased with how the process concluded, and we thank Heritage for their expert guidance and dedicated service from start to finish.”
Heritage Capital Group served as the intermediary and financial advisor to The Grimes Company. Bill Sorenson led the Heritage team which included Howard Serkin and Asok Chaudhuri.
Don Wiggins, President of Heritage Capital Group stated, “The Grimes Companies has built a very strong organization focused on expertise in all areas of supply chain management and third-party logistics. We are privileged to have had this opportunity to help and couldn’t be more excited about the future of the company.”