Sussex Wire, which is backed by Argosy Private Equity, has acquired Holyoke, Massachusetts-based Marox Corporation, a provider of orthopedic implants and aerospace components. No financial terms were disclosed.
EASTON, PENNSYLVANIA (PRWEB) MARCH 20, 2017
Sussex Wire, Inc., a global leader in miniature and micro-miniature, tight tolerance, cold formed, roll formed and 4-slide component parts, announced today the acquisition of Marox Corporation, a leading provider in CNC precision machined orthopedic implants and aerospace components. Sussex Wire’s acquisition of MAROX was backed by Argosy Private Equity, a private equity fund based in Wayne, PA with a long history of investing in and acquiring companies that manufacture highly engineered parts.
The acquisition supports the strategy of both companies to address customers’ need for more diverse manufacturing capabilities when developing tight tolerance components for their most demanding applications. MAROX and Sussex Wire’s engineering, manufacturing and quality systems are fully complementary. MAROX’s CNC Swiss Turning, CNC Milling and CNC Mill/Turn machining are a natural extension of Sussex Wire’s cold formed, roll formed and 4-slide capabilities.
MAROX and Sussex Wire will continue to operate as separate entities in Holyoke, MA, Easton, PA and Warminster, PA., with company leadership and employee support remaining the same.
“We’re excited by what the unique benefits of having CNC machining and cold forming capabilities under one roof will bring to MAROX and Sussex Wire’s customers”, said Tim Kardish, CEO, Sussex Wire, “MAROX and Sussex Wire are complementary organizations with shared value propositions of proactive customer service, engineering innovation and state of the art manufacturing technology.”
“The combination of Sussex Wire and Marox brings together two great companies with long histories of success”, said Jack Nugent, Partner at Argosy Private Equity and Chairman of Sussex Wire. “Together, Sussex Wire and Marox will have increased manufacturing capabilities and more engineering horsepower to solve our customers most difficult challenges.”
About Sussex Wire
Sussex Wire, Inc. (http://www.sussexwire.com), an ISO9001:2008 company founded in 1973 and located in Easton, PA, is a cold forming and roll forming company that collaborates with clients’ design engineers to lower cost, increase mechanical durability and reduce carbon footprint for component part tolerances down to +/- 0.0005”. The company specializes in critical custom applications in the medical device, healthcare consumables, aerospace, defense, consumer electronics, semi-conductor and hermetic assembly market segments.
About Marox Corporation
MAROX (http://www.marox.com), an ISO13485:2003, ISO9001:2008, and AS9100C company located in Holyoke, MA, with continuing operations since 1951 has developed a reputation in the medical and aerospace industries as a reliable source for high-quality, precision-machined components utilizing CNC multi-axis machining and Additive Manufacturing technologies.
About Argosy Private Equity
Argosy Private Equity (http://www.argosyprivateequity.com), based in Wayne, PA, is a lower middle market private equity firm, which invests in manufacturing and business services companies through management and leveraged buy-outs, recapitalizations, corporate divestitures, growth financings and generational transitions of family owned businesses. Argosy Private Equity is part of the Argosy Capital investment advisory group, which manages over $1 billion in private capital.