HSM, a global supplier of integrated solutions and components for the furniture, bedding and transportation industries, announced Dec. 2 that it will purchase sewing-equipment supplier Atlanta Attachment Co. and its subsidiaries.
The acquisition marks the Hickory, North Carolina-based company’s entry into the heavy machinery segment.
HSM said it plans to maintain the machinery company’s existing facilities and staff in Lawrenceville, Georgia, and incorporate AAC as a fourth division of HSM. Other HSM divisions include Hickory Springs Manufacturing Co., HSM Transportation Solutions & Specialty Manufacturing and HSM Diversified Solutions. The company was founded in 1944 by Parks Underdown.
AAC President Hank Little will remain with the company and report to Mark Jones, HSM president and chief executive officer.
“Like HSM, Atlanta Attachment Co. prides itself on strong customer service and dedication to its employees,” Jones said. “We are excited to have the AAC team become a part of our organization. Under Hank’s continued leadership, AAC’s customers can be assured of ongoing innovative products and services.”
AAC was founded in 1969 by Elvin Price, the company’s current chair, with a focus on custom-designed sewing stations for mattress production and other sectors. Recently, it has further diversified its offerings, which now include roll-packing and other packaging equipment.
Price, 76, who will take a step back from the business but continue on in a consulting and advisory role, said the deal “will enable AAC to further support existing customers and offer unique technologies on a broader scale in new and evolving industries.”
“The seeds of the deal were sewn several years ago in a casual conversation with Price at an ISPA Industry Conference concerning retirement and succession planning, and plans grew over time,” said Jimmy Bush, president of HSM’s Hickory Springs Manufacturing division, and son of Bob Bush Sr., one of the company’s first employees.
“Atlanta Attachment is a healthy, well-run business and the two companies are a good fit in terms of culture and strategy,” Bush said. “This acquisition is a perfect fit for HSM’s product diversification plans. We look forward to a long and profitable union.”
Both companies are privately held. HSM is wholly owned by members of the Underdown, Bush and Simmons (no relation to Simmons Bedding) families, most of whom are related and many of whom continue to work in the business. Terms of the deal were not disclosed.
This post was corrected 1/3/17 to reflect the fact that Parks Underdown was the company’s sole founder.
