Cross Company Expands With Acquisition of J.A. King in Whitsett, North Carolina
Cross Company’s CEO, Steve Earley said, “Cross and J.A. King are a perfect strategic fit. This combination of companies will benefit our customers going forward by expanding the complementary services that we can now provide.”
“The acquisition of J.A. King completes a Cross strategic goal of providing service and calibration capabilities for our customers. It also significantly increases our revenue and operating income, which should improve our ESOP share value and facilitate future growth,” he added.
J.A. King will become the sixth division of Cross and remain a stand-alone brand operating in the Southeast and Midwest, with little immediate overlap or rationalization of activities.
The merger will bring the total number of employees in the company to 670. All J.A. King associates will become employee-owners when they join the Cross Company. Cross’ corporate headquarters will remain in Whitsett; Cross veteran Richard Consoli will succeed John King as Division President.
“Becoming 100% employee owned is a great thing for our employees and the best possible transition from family ownership,” said J.A. King CEO, John King. “With a vested interest in the success of the company, J.A. King associates will have even more incentive to provide the world-class products and services our customers expect.”
“The culture of the two companies is remarkably similar, very focused on honesty, integrity, trust and commitment to teamwork,” said CEO Earley. “Additionally, each company has gone to market with a value proposition of combining technical excellence and outstanding customer service. I’m also really excited that John King will be leading the company through this transition and beyond. He’s extremely well qualified and brings a passion and enthusiasm for customer service that all Cross associates will welcome.”
2022 Top States for Doing Business Provide an Environment for Business Growth
2022 Top States Workforce Development Programs
The New Industrial Ecosystem
The 2021 Top States for Doing Business Reflect Their Locational Advantages
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
Location Factors in the EV Industry — “Mission Critical” or “Nice to Have”?
2022 Auto/Aero Site Guide
2022 Top States Commentary: Site Selection – When You Are Good, You Win!