ROSELAND, N.J. – Amano USA Holdings Inc. has reached an agreement to acquire 100 percent of the stock of Terry McGann & Associates Inc. of Minneapolis. Completion of the transaction is expected to take place in June 2007 upon the finalization of the due diligence process. Amano is a global manufacturer and distributor of hardware and software for the parking industry. McGann is a creates parking management software and specialty hardware and operates full-service parking sales and service offices throughout the U.S. Amano Cincinnati Inc. has partnered with McGann since 1982. McGann is Amano’s largest parking equipment distributor and software partner.
Amano is merging its parking business with McGann and the combined businesses will be known as Amano McGann utilizing the leadership of the existing management teams. Mike Lee and Terry McGann will assume the roles of chairman and president, respectively, reinforcing their joint commitment to continue to provide the best possible products and services to their customers while advancing Amano’s stated market strategy of becoming a full-service provider.
The merger brings together Amano hardware and iParc software with McGann Professional software, event, hotel and valet management systems, space management and sign control products. This will create new opportunities for Amano McGann to grow its business by delivering and integrating next generation solutions that take advantage of both companies’ software and hardware technology and parking expertise. Customers who have invested in Amano McGann systems can continue to build on their investment and benefit from new products.
Amano’s direct offices and network of independent distributors around the country will be complemented by McGann’s nationwide sales and service presence.
“Today, we are improving the depth of our sales and service coverage and now offer not only leading products but responsive service and support from professionals who understand our marketplace and our products, and who can deliver unparalleled customer service. We have a consistent vision of the future of parking systems and technology” says Lee, president and CEO of Amano Cincinnati, Inc.
“Our commitment to customer support and satisfaction has earned us respect and recognition in the parking industry”, says Terry McGann, president and CEO, of McGann Associates. “We are proud of our strong commitments to our customers, and we believe this merger will allow us to continue to provide the best possible service and support in the future.”
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An Amano Cincinnati Inc. press release.
