Southwire acquires Madison Electric Products
As part of the company's growth strategy, Southwire announces the acquisition of Madison Electric Products LLC of Solon, Ohio – a manufacturer of electrical components and accessories.
The purchase of Madison Electric includes a headquarters operation in Solon, Ohio and a warehouse and distribution facility in Duluth, Georgia. 34 employees will join the Southwire team through this acquisition. “Madison's breadth of products and solutions are a strong complement to our growing tools, components and assembled solutions portfolio,” says Rich Stinson, Southwire's president and CEO, in a press release. “As I've said many times, it is our goal to remain generationally-sustainable for the next 100 years and beyond. The opportunities and innovations that the Madison team brings will support us on this journey.” “Madison Electric, with its focus on innovative products through its Sparks Innovation Center portal, is a tremendous fit with our growing components product line and the rest of our Tools, Components and Assembled Solutions,” says Brandon Moss, executive vice president of Southwire's Tools, Components and Assembled Solutions business group.