Two Japanese companies have gone in together to acquire a fast-growing Fishers outsourcing solutions provider. Stratosphere Quality LLC says around 400 of its 2,300 current employees are in Indiana. Chief Executive Officer Tom Gray tells Inside INdiana Business he does not expect the acquisition by Sojitz Corp. and Green Tec Corp. to lead to any layoffs.
Stratosphere Quality was launched in 2009 and its clients list has grown to 3,000 in that time with employees in 22 states, Mexico, Canada and China. Gray says the deal was first initiated last year and the new owners will bring resources to help grow the business. Gray will remain CEO and founder Steve Cage will serve on the company’s advisory board.
Cage says "this is an exciting day for Stratosphere Quality. This acquisition provides an even greater opportunity to support the global supply chain with industry leading services. The Sojitz and Green Tec acquisition provides incredibly strong financial backing along with an immediate increased base in the automotive industry. We anticipate a seamless transition given our shared goals and commitment to best practices in the quality services industry."
Sojitz Corp. will own the majority of Stratosphere Quality shares, while Green Tec will own the rest.
In April, Stratosphere Quality announced plans to invest $3.7 million into its Hamilton County headquarters. In 2012, it pumped $2.6 million into growth efforts. Its employees work in sorting and inspection for manufacturers in industries including automotive, medical device, electronics, home appliance and recreational vehicle. Financial details of the acquisition are not being disclosed.