Kanthal acquires Custom Electric Manufacturing, a leading manufacturer of heating elements
Kanthal acquires privately owned Custom Electric Manufacturing Co., headquartered in Wixom, Michigan, USA. 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, says Nicklas Nilsson, President, Kanthal.
Former President of Custom Electric, Robert H. Edwards, agrees:
"The transaction represents the beginning of an exciting new chapter in Custom Electric's nearly fifty-year journey. We are confident that the combination will represent a great outcome for the company's employees and customers over the long-term", he says.
In 2017, Custom Electric had revenues of 5.2 million USD, 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 1 August 2018.
