Southwire has acquired Madison Electric Products LLC of Solon, Ohio – a manufacturer of high-quality, electrical components and accessories.
Madison Electric is widely recognized for designing high-quality, innovative electrical products for the professional, including SmartLB™, Smart Box™, Draft Seal™, Pull-It™ and other well-known brands. A large portion of these products come from its Sparks Innovation Center™ interface, a crowd-sourcing approach to product development, which allows electricians to submit new product ideas. This has contributed to a strong pipeline of new and innovative products that are focused on helping the electrician.
"Madison's breadth of products and solutions are a strong complement to our growing tools, components and assembled solutions portfolio," said Rich Stinson, Southwire's president and CEO. "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."
The purchase of Madison Electric includes a headquarters operation in Solon, Ohio and a state-of-the-art warehouse and distribution facility in Duluth, Ga. 34 employees will join the Southwire team through this acquisition.
"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," said Brandon Moss, executive vice president of Southwire's Tools, Components and Assembled Solutions business group. "We are excited to add Madison Electric Products to Southwire's product line and look forward to better serving our customers with our ever-growing line of solutions focused on the professional."