LEXINGTON, KY. — Gray Solutions, a subsidiary of Gray, Inc., announced Feb. 16 its acquisition of Stone Technologies, a St. Louis-based systems integrator in the food and beverage, pharmaceutical, life sciences and consumer packaged goods (CPG) industries.
The combined companies will leverage each other’s digital, engineering and planning capabilities to better serve industry demands. Gray will also add a location in St. Louis, aside from its existing locations in Lexington and Anaheim, Calif.
“Since its inception three years ago, Gray Solutions has experienced exponential growth starting with two team members and increasing to 70 team members today,” said Walker Mattox, chief executive officer of Gray Solutions. “This merger provides the perfect opportunity to bring Stone’s experience in the industry alongside our rapidly growing business to offer a more complete and robust digital offering to customers.
“Beyond the business benefits, the Stone team shares our culture and values, creating a strong foundation for our future together,” Mattox added.
Stone Technologies was founded in 1996 and currently employs 84 full-time people across 20 states. Stone specializes in manufacturing execution, information, process control, packaging and material handling systems, as well as providing automation and information services. The company is also a certified member of the Control Systems Integrator Association (CSIA).
“Stone is thrilled to become part of a growing organization that will allow us not only to advance the digital solution we can offer customers, but also offer further growth opportunities for our team members,” said Eric Schaefer, current president of Stone Technologies and now president of Gray Solutions, following the acquisition. “The merger is truly a win-win from every angle and secures our future as a premier integrator for our team members and customers.”
Don Ulrich, former chief executive officer of Stone Technologies, has joined Gray as chief revenue officer following the acquisition.
“We’re excited about the ability to deepen relationships with customers and partners, while opening doors for our team members to grow and collaborate more effectively,” Ulrich said. “Having similar values and purpose made the merger a natural progression, allowing a stronger offering for our customers.”
Stephen Gray, president and chief executive officer of Gray, Inc., commented, “As a company deeply rooted in engineering, design, and construction services, Gray has, first-hand, witnessed the evolution of these capabilities alongside the increased demand for digital solutions. Through this merger, we are doubling down on our investment in digital offerings and further demonstrating our commitment to the food and beverage market.”
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