Gray Strengthens Digital Offering with Stone Technologies Acquisition
Gray, a fully integrated service provider, is announcing a merger agreement between Gray Solutions, a Gray company, and Stone Technologies, a national systems integrator based in St. Louis, to deliver strengthened digital services to customers across the Food & Beverage, Pharmaceutical, Life Sciences, and Consumer Packaged Goods (CPG) markets. Together, Gray Solutions and Stone Technologies will deliver enhanced digital capabilities to better serve increasing industry demands.
“Since its inception three years ago, Gray Solutions has experienced exponential growth starting with two team members and increasing to 70 team members today,” says Walker Mattox, now CEO of Gray Solutions, a Gray company. “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,” adds Mattox.
Gray Solutions brings 70 team members with 60 years of experience through customers such as Clemens Food Group, Diageo, and Petsource by Scoular to the merger, while Stone brings more than 80 team members and 25 years of experience. In addition, Stone is a certified member of the Control Systems Integrator Association (CSIA).
Since its founding in 1996, Stone Technologies has grown to 84 full-time team members located in 20 states. The company delivers manufacturing execution, information, process control, packaging, and material handling systems, and provides complete industrial automation and information services from conceptual design through commissioning. Control Engineering magazine recognized Stone as the 2010 Control System Integrator of the Year and a System Integrator Giant for the past five years.
“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,” says Eric Schaefer, current president of Stone Technologies and now president of Gray Solutions, a Gray company. “The merger is truly a win-win from every angle and secures our future as a premier integrator for our team members and customers.”
“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,” says Don Ulrich, former CEO of Stone Technologies and now CRO of Gray Solutions. “Having similar values and purpose made the merger a natural progression, allowing a stronger offering for customers.”
The newly expanded Gray Solutions will continue to provide robust services including digital, engineering, and planning capabilities.
“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,” points out Stephen Gray, president and CEO, Gray, Inc. “Through this merger, we are doubling down on our investment in digital offerings and further demonstrating our commitment to the food & beverage market.”
“The Clemens Food Group operation in Coldwater, Michigan would not be possible without the work of Gray’s digital arm on our automated material handling systems. At a time when automation and digital systems are transforming our industry, along with other markets, a merger like this just makes sense,” points out Doug Clemens, president and CEO of Clemens Food Group. “This new team will provide a stronger and more robust offering of digital services for many Gray customers. Congratulations to the entire Gray team on this momentous investment.”
In addition to the headquarters in Lexington, KY, and a hub in Anaheim, CA, Gray Solutions will now have a hub in St. Louis, MO with team members continuing operations across 26 states.
About Gray, Inc.
Gray, Inc., the holding company for Gray Solutions, is comprised of 11 operating companies: Gray Construction; Gray Development; Gray Ohio Valley; Gray West; Timberwolff Construction; Gray Solutions; InLine Engineers; Spec Engineering; Spencer Bristol Engineering, Willett Engineering, and Anderson Dahlen Inc. Although separate operating companies, all fall under the Gray brand, consistently working together with various customers across the U.S. and internationally to provide a total turnkey services platform offering. As a family-owned company, we focus on the following markets for domestic and international customers: Food & Beverage, Manufacturing, Automotive, Distribution, Mission Critical, and Commercial.
About Gray Solutions, A Gray Company
Gray Solutions, a Gray company, provides automation, operations, and information services focused on helping food & beverage customers implement smart manufacturing. Our creative approach to optimizing complex integrated processes allows us to deliver fast, transformative results for projects of all sizes.
About Stone Technologies
Stone Technologies, Inc. is a national Systems Integrator that focuses on project delivery, and since 1996, has provided manufacturing consulting and industrial automation services, including process control and manufacturing execution system (MES/MOM) design, software development, and commissioning.