Issue link: http://psai.uberflip.com/i/980009
W EEKLY EDITION MAY 9, 2018 More Coverage of Satellite Industries' Acquisition of PolyPortables …continued The PSAI spoke to both companies to learn more about how this decision was made and what to expect from Satellite and PolyPortables going forward How and why this acquisition happened. Because PolyPortables was owned by an equity partnership with interests outside of the portable sanitation industry, it was likely that they would someday want to sell. Satellite approached them in November of last year and they were open to the possibility. Conversations cont inued and on April 30, 2018 the sale was finalized. John Babcock, Satellite Industries President, discussed the preliminary stages of the acquisition: "The decision came quite naturally for both of us. We have very similar cultures, [and] our focus on cu stomers and our people make the two organizations very complimentary. We had both been admiring each other from afar for many years, and through our contacts at the various shows and PSAI events, we eventually started talking about how we could become one. Discussions really gained momentum early this year and we knew after a short period of due diligence that it was a very complimentary match for both of us. When it feels as natural a fit as this did to us, you go with your instinct. I believe it will be a good decision for Satellite, for PolyPortables, for our combined customers and the industry." Todd Hilde, Owner and CEO of Satellite Industries, also explained why he supported this acquisition: "As an owner, I feel as though I have a responsibility to grow the company and give our people more opportunities to advance in their careers and the possibility of making more money for their families. I also have the responsibility to make sure the company can sustain itself in the future. In my estimation, the best way to do that is to make sure the company is growing." Moving forward together . Since the announcement was made last week, both the Satellite Industries team and the PolyPortables team have begun to adapt. Eric Capers, PolyPortables President, shar ed the following sentiment: "Everything has been very positive, from both a customer and employee perspective. Everyone is so busy this time of year that we've really tried to minimize the distractions, even though there is a lot of work that is getting a ccomplished "behind the scenes" to merge both companies' current systems into one." John Babcock echoed this message, saying the following: "The feedback has been overwhelmingly positive from both teams, our core customers and beyond. The PolyPortables team is receiving much more detailed feedback as they are more affected and I am humbled by the positive energy and excitement from their side. " P AGE 4 CONTINUED ON PAGE 5