Diane M. Hendricks Enterprises Inc. (Beloit, WI) has announced the sale of signage and display business Federal Heath Sign Co. (Euless, TX) to Federal Heath Holdings Ltd., a UK subsidiary of Marsh Global Holdings Ltd. (Kowloon, Hong Kong).
The deal follows Federal Heath’s nearly 20-year partnership with Marsh Global focused on supply chain expertise and manufacturing/engineering capability, according to a news release from Federal Heath Holdings. Terms of the acquisition, which was completed on March 31, were not disclosed.
“It is our belief this move makes sense for our company and most importantly, our customers,” Sid Rasnick, president and CEO of Federal Heath, is quoted in the release. “Our new structure brings an unmatched wealth of new capabilities, strategic direction and resources to better serve our customers, shareholders and employees.”
“The combination of Federal Heath and Marsh Global is based on our shared vision for the future,” William Marsh, chairman of Marsh Global, added. “By marrying Marsh’s unique strategy of environmental stewardship through sustainable engineering and manufacturing superiority with Federal Heath’s customer service and marketplace intelligence, we intend to create a game changing company in an industry that is hungry for a better way.”
Diane Hendricks, who ranked No. 1 on Forbes’ list of America’s self-made women for 2022 with a net worth of $13.7 billion, currently serves as a shareholder and director of Marsh Global. She’s also chairperson, co-founder and owner of ABC Supply Co. (Beloit, WI), the largest wholesale distributor of roofing in the US.
Federal Heath has manufacturing facilities and offices across the US, while Marsh Global has manufacturing and engineering operations in the plumbing, HVAC&R and building materials industries in the US, UK and China. In addition to Federal Heath, the holding company lists three other entities in its portfolio: William Marsh & Co., Hong Kong Harbour Co. and Henry Group Industries.
For more information, visit federalheath.com.