Reelcraft to be acquired by Madison Industries
Reelcraft announced that SKF has signed an agreement, subject to regulatory approvals, to divest Reelcraft to Madison Industries.
The total consideration of the divestment is $115 million on a cash-free and debt-free basis and the divestment is expected to close during the third quarter of 2017.
Reelcraft joined SKF as part of the acquisition of Lincoln Industrial in 2010. Reelcraft's sales in 2016 amounted to approximately $55 million.
Reelcraft is a global designer and manufacturer of hose, cord and cable reels for industrial, commercial and professional applications.
Reelcraft will join the Madison Safety & Flow vertical of Madison Industries. Other companies in the segment include Amkus Rescue Systems, Cablecraft Motion Controls, Hydra-Stop and Task Force Tips.
According to the Chicago-based company's website, "Madison Industries is one of the largest and most successful privately held companies in the world. Madison builds entrepreneurially driven, branded market leaders that are committed to making the world safer, healthier and more productive by creating innovative solutions that deliver outstanding customer value. The team at Madison is committed to building something truly remarkable that long outlasts them while coaching others to reach their highest potential."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
