Naples-based Pelican Wire Company has acquired Rubadue Wire of Greeley, Colo.
"This was a perfect opportunity to expand our business with a well-run, quality focused company playing a niche role in the wire and cable industry" Ted Bill, president of Pelican Wire, said in a press release. "The combination of the two companies will allow us to leverage the strengths of the two manufacturing plants and increase the product offerings to all of our customers. I'm pleased to be bringing these two strong American manufacturing companies together."
The two companies will be united as sister companies operating under the umbrella of Pelican Holdings Group. Rubadue Wire will continue to maintain its brand, facility, and management team in Greeley. Pelican Wire will continue to operate out of its Naples facility.
"We created Pelican Holdings group to manage our expansion plans and to continue to increase shareholder value for our employee owners" said Bill, who will serve as CEO of Pelican Holdings Group. The price of the acquisition was not given.
Pelican Wire Company is a custom manufacturer or wire and cable products used for electrical heating and temperature measurement. Specializing in resistance wire, thermocouple wire, and custom wire, Pelican has the capabilities to deliver on any wire and cable need.
Rubadue Wire is a pioneer in the wire and cable industry having created the world's first triple insulated wire and developed the self-bonding fluoropolymer product line known as COILBOND. The company has since expanded into a variety of multi-layer insulated wires and other value-added solutions in the wire and cable industry.