Sweden-based SKF announced last week that it has signed an agreement to divest Reelcraft — a supplier of hose, cord and cable reels for industrial applications — to privately-held Madison Industries.
SKF states the total value of the sale is $115 million and is expected to close during its 2017 fiscal third quarter.
Columbia City, IN-based Reelcraft joined SKF as part of its 2010 acquisition of Lincoln Industrial. Reelcraft had 2016 sales of approximately $55 million.
Reelcraft will join the Madison Safety & Flow vertical of Madison Industries.