Fabrication tool and equipment provider S.F.E. Group has acquired fellow Houston company Sumner Brand from Southwire, company officials announced.
Sumner, founded in 1965, offers material lifts, jack stands, welding tools and other industrial equipment. S.F.E. officials said the move would bolster its position as “the leader in specialized fabrication tools, portable machining systems and advanced welding solutions.” Following the acquisition, S.F.E. includes 12 brands, more than 400 employees and thousands of products.
Terms of the deal were not disclosed.
“This acquisition strengthens our tools and equipment portfolio by leveraging Sumner’s industry expertise and extensive market reach,” S.F.E. Group CEO Vinay Varma said in a statement. “We will enhance our position in the contractor equipment industry, expand in-house operational capabilities, and accelerate growth in industrial supply and rental markets.”
“As we continue to evaluate our practices and align with the company's priorities, we hold our strategic goals at the forefront of our minds,” Southwire President and CEO Rich Stinson said in a company statement. “We are committed to our adjacency strategy fit within our goals of serving the electrical market.”
