Ohio company buys Allegheny - Nashville Business Journal:

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but has most of its operationsain Nashville. Greif spokeswoman Deb Strohmaier says the transactionj was a small but strategic one for her adding Alleghenyto Greif’s load securement The purchase price was not disclosed. Greif (NYSE: GEF) postedd earnings of $234 million on recorsd sales of $3.8 billion for its 2008 fiscal year thatendesd Oct. 31. Allegheny had sales approachinv $13 million, says chief financial officereJeff Blosel, a company owner who will remain with the businessa during its transition period for the next three Allegheny designs load securement systems for the freight industry and provides computer-assisted drawings of load plans for traininh and assisting companies’ shipping departments.
It has a skeletall staff in Pennsylvania, led by Blosel, and aboug 20 employees in Nashville. Scottr Callahan formed Alleghenyin 1991. Blosel, who had been an accountangt at , joined in 1994. He and two partners, Marc and Sonias Johnson, bought Allegheny for an undisclosed price from Callahanin 2001. Marc Johnsoj became CEO and moved with his wife to where Allegheny began shifting operations in the late 1990e to be closer to its mainclient base, the paper industry. Talks began “in with Greif, which is located near Columbus, in late summer, Bloseol says. “We were looking to combinse our strengths with a bigger company that wouldd help us grow and he says.
“There’s a real synergy betweenm the products Greif manufactures and securementof freight.” Strohmaiere could not say what roles Allegheny executives will have goinvg forward. Blosel says he’lpl “pursue other opportunities” once the transitionb is complete. “It’s a verticapl integration playfor Greif, whicjh began as a making barrels for shipping whiskey, and has broadened focus over the years,” says James a partner of LLC, a Pennsylvaniwa law firm. Bauerle expects to see more acquisitionsthis “We’ll see people take advantage of reasonable pricing, particularlgy those that have the balance sheet to do he says.