Sandvik Acquires Custom Electric Manufacturing
Sweden’s Sandvik acquired privately owned Custom Electric Manufacturing Co. of Wixom, Mich. Custom Electric manufactures original and replacement heating elements for electric and gas furnaces for the North American market. The business will be reported as part of the product area Kanthal within business area Sandvik Materials Technology. The deal will further strengthen Sandvik’s position in industrial heating systems. Custom Electric will continue to go to market under its own brand.
In 2017, Custom Electric had revenues of $5.2 million and approximately 20 employees.