CMS Purchase: CMS Enhancements Inc. said Wednesday...
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CMS Purchase: CMS Enhancements Inc. said Wednesday that it has purchased Rhino Sales Co., a regional computer distributor based in Fenton, Mich.
The announcement boosted CMS’ stock 14% in Wednesday’s trading on the New York Stock Exchange. The stock closed at $6 a share, up 75 cents.
CMS, based in Irvine, manufactures hard disk subsystems and other accessories for personal computers. The company said it was attracted to Rhino’s supplier agreements. Rhino distributes computers to value-added resellers, mainly in the Midwest.
Hal Clark, president of CMS, estimated that Rhino will add $15 million to $20 million to CMS’ sales this year. For its latest fiscal year, CMS reported sales of $73.1 million.
