Southwire, Carrollton, GA, acquired Madison Electric Products, Solon, OH, with electrical components and accessories under brands 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 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, in a post on www.southwire.com. “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,” said Brandon Moss, executive VP of Southwire’s Tools, Components and Assembled Solutions business group, in the post. “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.”
Southwire has been an active player in the acquisition market for many years. Its past acquisitions include United Copper Industries (2016); Seatek (2015); Coleman Cable (2014); American Insulated Wire (2010); Tappan Wire & Cable (2010); Maxis Contractor Equipment (2009); Essex Electrical Products (2006); FlatWire (2005); Alflex (2004); and General Cable’s building wire assets (2001).