Smith Family and Management Re-acquire Knit-Rite

Mark Smith, CP, Ron Hercules, Chris Vering, and Ted Smith, announce the re-acquisition of Knit-Rite Inc., Kansas City, Kansas, from Perry Bacon and related parties on January 30. Knit-Rite is an 84-year-old O&P manufacturer and distributor of numerous O&P product lines.

Mark Smith and Ron Hercules have been familiar faces around the O&P industry for many years, Chris Vering has been part of company leadership for more than seven years, and Ted Smith began his involvement in the business while a teenager. The Smith family has been active in the O&P industry and Knit-Rite for three generations.

Mark Smith will serve the company as president and chief executive officer, Hercules as executive vice president of sales, and Vering as executive vice president, chief operating officer, and chief financial officer. Bacon will continue to serve on the company's board and in a consulting capacity, and Ted Smith will serve on the board and in the areas of production and purchasing management.

Mark Smith said, "It is exciting for our family to take back the reigns of Knit-Rite. Knit-Rite was a great company when our parents sold it to Perry 14 years ago, and overall it is even better now. Our core business in O&P is stronger than ever, and we are also now diversified in both the diabetic foot and vascular support areas. Ron, Chris, and I appreciate both having had the opportunity to work with Perry, and the fact that he will continue to serve as a consultant and will remain on our board."

Smith went on to say, "As a third-generation practitioner and supplier, I know how fortunate we are to be a part of this special and close-knit profession. We are proud to have played key roles, both in industry leadership and product development, since 1923. Our grandfather Ted Smith, CO, helped shape the OALMA association that became AOPA and he was also a charter Academy member. Our dad, Bill Smith, CO helped write the original ABC exams and was president of AOPA in 1985. And on the product side, we have a tremendous heritage of responding to practitioners with product development. It is very satisfying to run with an idea and have the resulting product solve clinical problems and help thousands of people lead better lives. We have a great track record of doing that, and a comprehensive range of products to show for it."

Smith added, "Perhaps the most rewarding thing for our group is that we are part of an outstanding team of people throughout Knit-Rite with a shared dedication of serving the needs of our facility and distributor customers, and at the same time being blessed with very enjoyable and long standing relationships with many of those customers."

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Smith Family and Management Re-acquire Knit-Rite

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