Kanthal acquired privately owned Custom Electric Manufacturing Co., headquartered in Wixom, Michigan. The company is a leading manufacturer of original equipment and replacement heating elements in North America.
“The acquisition further strengthens our footprint in the North American market. Custom Electric is a perfect match with regards to product portfolio, values, and vision,” said Nicklas Nilsson, Kanthal president.
Robert H. Edwards, former president of Custom Electric, said, “The transaction represents the beginning of an exciting new chapter in Custom Electric’s nearly 50-year journey. We are confident that the combination will represent a great outcome for the company’s employees and customers over the long term.”
In 2017, Custom Electric had revenues of $5.2 million, approximately 20 employees, and a strong sales network in North America. Custom Electric Manufacturing will continue to go to market under its own brand.
The transaction was closed on August 1, 2018.
More info www.kanthal.com