James Bright, Managing Editor, firstname.lastname@example.org
Chickasha based HSI Sensing is expanding its reach to the west coast after their purchase of San Diego based Genisco Filter Corp. last week.
"We have been looking at this company for a long time and we see potential for great growth opportunities in sales and technological development here," Ryan Posey, vice president of operations for HSI Sensing said.
Posey said he was drawn to the establishment of Genisco's team and apparent talent in their particular field.
"They just needed some new investments to move the company forward," Posey said.
Genisco produces electromagnetic interference filters intended to disrupt stray electronic waves from impairing equipment found in places like hospitals and airplanes.
Operations Manager for Genisco Deborah Sandvig said the filters range anywhere between the size of a pill capsule to 1,700 pounds, and are used all over the world.
Posey said he plans to keep the company in San Diego, and Genisco will be treated as its own company and as a subsidiary of HSI.
Sandvig said Poesy approached her earlier in the year to express interest in Genisco.
"They came to the conclusion that we are a business they wanted to invest in, which is very flattering for us," she said. "We are a small company, but we are very creative."
Although the company was by no means in dire straights, according to Sandvig, the acquisition will allow Genisco the capital to increase development and research.
"We are very proactive in higher development, and just the exposure from being affiliated with a company of their (HSI) scale will help a lot," she said. "If you can't grow your product, it's hard to make it in this business."
Recently, Genisco has taken their work from strictly government contracts to private industry. This move has generated more revenue that could make expansion in the near future a possibility, said Sandvig.
"We are going to be here for the short term," she said. "As for the future, it depends on what Ryan has in store for us, but I think is going to be good for both sides in the long run and I'm anxious to see what will happen."
Posey said HSI is still looking at various other possible acquisitions. A pipeline list of prospective future subsidiaries is under constant discussion, according to Posey and adding businesses like Genisco is something Posey said, HSI hopes to do while continuing to produce new products of their own.