Baltimore-based Marlin Steel Wire has acquired the assets of an Indiana-based maker of wire products for an undisclosed price, the manufacturers said Tuesday.
Madsen Wire, based in Orland, Indiana, makes security partitions for fleet vehicles and is one of the largest manufacturers of wire mesh, wire grid, wire mats and forms and refrigerator shelves. The acquisition price was less than $10 million, said Drew Greenblatt, president of Marlin Industries. Home Kitchen Gift
The merger will allow the companies to ship faster and provide more capacity to take advantage of bigger jobs that are returning to the U.S. from China, Greenblatt said.
Marlin Steel, a privately owned firm that moved to Baltimore in 1999 from Brooklyn, New York, makes custom-engineered products of steel wire and sheet metal for the aerospace, defense, medical and automotive industries. The company employs 80 workers and expects to hire up to 15% more in the next month.
“We are seeing a surge of business and welcome the abilities of the folks at Madsen,” Greenblatt said in an announcement. “We are all in on USA manufacturing.”
Gt2 Pulley 6mm Bore Madsen Wire Products, founded in 1938, said it plans to hire additional workers in Indiana to help serve new clients and surging demand. Madsen said it has recently invested millions of dollars in robotic welding and wire forming technology.