Southwire Announces Acquisition of Madison Electric Products

CARROLLTON, Ga., July 27, 2020 /PRNewswire/ -- Supporting the company's growth strategy, Southwire is pleased to announce the acquisition of 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."

For more information on Madison Electric, visit meproducts.net

A leader in technology and innovation, Southwire Company, LLC is one of North America's largest wire and cable producers and an emerging influence in the industrial electrical space. Southwire and its subsidiaries manufacture building wire and cable, metal-clad cable, utility products, portable and electronic cord products, OEM wire products and engineered products. In addition, Southwire supplies assembled products, contractor equipment and hand tools. For more on Southwire's products, its community involvement and its vision of sustainability, visit www.southwire.com.

© 2020 Southwire Company, LLC. All Rights Reserved.

SOURCE Southwire Company, LLC

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