Last month, Carousel Industries, an information technology company, has announced two separate acquisitions, one of which was the local business SOURCE, Inc.
Over the past 11 years, Carousel has announced the procurement of 11 companies, the last of which is SOURCE. Prior to purchasing the Dallas-based company, Carousel announced it was acquiring Atrion Inc., a large information-technology firm in Warwick, Rhode Island. The SOURCE transaction has closed, and finalization of the Atrion deal is expected in July or August.
SOURCE, Inc. includes a sales office and warehouse here in Texas, as well as a sales office in Missouri. Its 100 employees will continue their employment at their present locations for their new employer. The addition of SOURCE and Antrion will increase Carousel’s employee numbers around the country to around 1,400.
Last year SOURCE’s revenue was about $30 million, and projections of Carousel’s revenue for this year, including that from acquisitions, is around $580m. Headquartered in Rhode Island, Carousel provides companies with communication and technology systems, and provides services for its sales.
Dovetailing with Carousel’s business model, Atrion builds computer networks and sells technology equipment, as well as providing maintenance. SOURCE assists large companies in managing information and communication technology inventories by providing evaluations and recommendations on when to sell and purchase new equipment, as well as refurbishing equipment.
Although SOURCE will retain its name, the addition of the tagline ‘A Carousel company’ will likely necessitate new personalized Stationery and Letterheads.
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