By Tote® Systems International - April 8, 2010
Tote Systems Announces Management Changes
The company whose name started an industry adds new Chief Executive Officer
Ft. Worth, TX: Today Tote Systems International, LP (“Tote Systems”) announced that Rick Humke has been named the new Chief Executive Officer (CEO). Former CEO, Mike Ames will be serving the company in a sales consulting role.
"We are extraordinarily pleased that Rick has answered the call to lead Tote Systems in a new direction. He demonstrates a rare blend of operational expertise, financial acumen and sales savvy,” said Arthur Hollingsworth, Managing Partner of Lone Star Investment Advisors LLC (“Lone Star”), Tote Systems’ equity sponsor. “During his initial weeks on the ground, Rick has sought to get the company refocused on customer service and operational excellence. We are proud of Tote Systems’ market leadership position and we will continue to broaden our seasoned management team to strengthen our relationships with our customers and manufacturing partners.”
Mr. Humke joins Tote Systems from Lissner Associates, where he served as its Senior Consultant and led a team of turnaround executives for underperforming and troubled companies. Mr. Humke is a 20 year veteran of manufacturing and distribution companies having served in executive or ownership positions at Arc One, Allied Forest Products, Allied Building Products, and Payless Cashways. “I am thrilled to partner with the Lone Star group and Tote team because I am convinced that through strong customer partnerships, ambitious goals, and a focused commitment to customer service, we can transform the standards and performance expectations within the industry,” stated Humke.
In recent months Tote Systems has built the foundation to aggressively pursue new markets on an international basis. “Rick’s experience at Fortune 100 companies will be of tremendous importance as we look to accelerate and enhance the business,” commented Mr. Hollingsworth. “Furthermore, our new go-to-market strategy when combined with a continued focus on customer service, will allow Tote Systems to preserve its status as market leader, creating a greater distance between the Company and its competition.”
About Tote® Systems
Tote® Systems, the originator of material handling containment systems, has offered high quality bulk handling supplies since 1948. Tote® Systems offers filling, packaging, blending, processing, shipping, storage and dispensing equipment for packaging dry powder and liquid-based ingredients. Tote® Systems also offers machinery and system engineering services and waterjet cutting of materials. Tote® Systems products include bins, blenders, post lifts, discharge stations, fill stations, wash stations, valves, liquid IBC’s, integrated handling equipment , material storage tanks and spare parts.
About Lone Star Investment Advisors, LLC
Lone Star is a Texas based private equity fund that makes equity and equity-oriented investments in middle-market companies located in low- to moderate-income communities in the state of Texas. Our fund is specifically structured to assist bank investors in meeting the Community Reinvestment Act regulations for examinations in lending, investment, and service. We have successfully invested in all types of economic and financial conditions, developing a track record that we believe distinguishes our firm. With over twenty years of private equity experience the Fund’s Managers have invested in over 35 companies through affiliated funds. Throughout this time, Management has been able to serve the dual bottom line of community development and top quartile returns.
For more information, please contact: