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| The Marmon Group – Then | |
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The multi-billion dollar complex of businesses known today as The Marmon Group began in 1953 when brothers Jay and Robert Pritzker acquired The Colson Corporation, then an ailing manufacturer with continuing sales of $3.5 million. Once Colson was restored to profitability, other small businesses were acquired or created. By the early 1960s, a dozen companies had joined informally to benefit from shared consulting and administrative services. |
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The Marmon Group name was adopted in 1964 after the acquisition of the Marmon-Herrington Company, successor to the Marmon Motor Car Company. An early 20th century producer of fine passenger automobiles, Marmon also manufactured the car that won the first Indianapolis 500 race in 1911. |
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With the 1976 acquisition of Cerro Corporation, combined revenues for Marmon Group member businesses doubled to nearly $1 billion and the organization grew more diverse. By this time, member companies manufactured products including automotive equipment, metal products and materials, electrical and electronic wire and cable, retail store fixtures and more. The 1981 acquisition of Trans Union Corporation added businesses that manufacture and lease railroad tank cars, provide consumer credit information and produce water purification systems, fasteners and other products. Combined revenues that year approached $3 billion. |
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Throughout the 1980s and 1990s, The Marmon Group of companies expanded via internal investment and multiple smaller acquisitions in industries where member businesses already had a presence, including information management, retail store equipment, wire and cable and others. |
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In January 2002, Robert Pritzker concluded his five decade tenure at Marmon. Thomas Pritzker became Chairman and John Nichols was named Chief Executive Officer. The current decade has seen The Marmon Group organize into core business sectors dedicated to supporting growth in their respective industries. At the start of 2005, TransUnion, an information-based business that was unique within the largely manufacturing Marmon organization, was established as a stand-alone operation. In January 2006, Mr. Nichols became Vice Chairman of Marmon and was succeeded as CEO by Frank Ptak. |
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In March 2008, Berkshire Hathaway Inc. acquired majority interest in The Marmon Group of companies. |
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