George Risk Industries Inc. (GRI) announced it acquired Labor Saving Devices Inc. (LSDI).
In announcing the transaction, Stephanie Risk-McElroy, president and CEO of GRI, stated, “We are excited about adding the LSDI line to the GRI family. Over the years we have looked at a variety of companies but when Roy Bowling presented the offer to acquire, the two product lines seemed to be a natural fit. The LSDI product line complements our existing product line and will allow GRI to expand into other industries, including cable, communications, etc. … We look forward to expanding our product line and markets both state side and internationally.”
Roy Bowling, owner and chairman of LSDI, said, “I am pleased and proud to hand over the 35-year legacy of Labor Saving Devices Inc. to such a high-quality company. As a former board member, I have great respect for the history and tradition of George Risk Industries Inc. I would not have sold my business to anyone else.”