In a strategic move to broaden its position in the utility segment, Greenlee, a Textron Inc. (NYSE: TXT) company, announced Wednesday it has acquired ownership of Sherman & Reilly, Inc., a manufacturer of underground and aerial transmission and distribution products based in Chattanooga.
“Sherman & Reilly is an acknowledged leader in heavy pulling products for distribution and transmission applications,” said Scott Hall, president, Textron Industrial Segment and Greenlee. “Like Greenlee Utility, the company has a strong brand built on innovation and service to the utility professional. S+R is a logical complement to our Greenlee Utility and Gator products and will significantly expand Greenlee’s presence in the utility segment.”
“We are excited to be joining the Greenlee Textron family,” said Mike Dunn, general manager of Sherman and Reilly. “The combined strength of our brands, along with Greenlee’s established presence in the utility channel will further accelerate our growth and provide new opportunities for our talented employees.”
Sherman & Reilly is the leading U.S. manufacturer of pulling and stringing equipment for the power utility segment. The company currently employs 110 people and will join the Greenlee family of brands alongside Greenlee, Klauke and Greenlee Communications. In addition to its portfolio of pulling products and accessories Sherman and Reilly will continue to manufacture a range of cable installation blocks and distribute fiber-optic blowing systems for the telecommunication market. Sherman and Reilly will become a separate business unit within Greenlee, led by Mr. Dunn.