To All Singer Employees:
I am pleased to announce that today Singer Equipment acquired the foodservice equipment design and distribution business of Facilities Services, Inc. (FSI) of Annapolis, MD.
Facilities Services, Inc. is a specialized provider of commercial food service equipment, engineering, custom stainless fabrication, logistics, and project fulfillment. FSI serves the hospitality and lodging industries nationwide for major remodels, renovations and new construction. Kevin Richards, the founder and current President of FSI, will continue as the executive leading the new division which will operate as FSI, a division of Singer MD, LLC. Kevin will report to Rod White, President of Ashland Equipment.
FSI will be supported primarily by the Ashland Equipment team and will grow the Singer MD business by approximately 15%. This acquisition will allow the FSI team to operate more efficiently, improve their buying power, and grow more rapidly.
I am excited for you to get to know the employees of FSI. They have built a strong reputation for quality work and deep expertise. They share our culture of building their business on impeccable service and long-term business relationships. I know that they will fit right in as part of our team.
This acquisition moves us toward the realization of our strategic long-term goals. We laid out our strategic vision several years ago - “To be the leading dealer from NY to DC, and to be recognized as a dealer of choice by national chains, contract feeders and quality general contractors.” This acquisition is another step toward achieving this goal by expanding our footprint and presence in the greater DC market and building our national reputation in the hotel and lodging segment.
I am also proud of the Ashland team that, only a few months after their own acquisition, took on the responsibility for closing the FSI deal and supporting its integration and growth. It is a sign of the strength of the leadership team at Ashland and their commitment to our overall success.
I want to take this opportunity to thank each one of you. We continue in our efforts to build a great and enduring company.
Sincerely,
SINGER EQUIPMENT COMPANY, INC.
Fred Singer