The company intends to use the funds to acquire Maron Corporation, a precision manufacturer of orthopedic implants and aerospace components.
The acquisition will enable Sussex, a portfolio company of Argosy Private Equity, to expand its operational and manufacturing capabilities. Both Sussex Wire and Marox offer complementary tight-tolerance manufacturing technology with operations and quality systems suited to address applications in the medical device, healthcare, aerospace, and transportation markets.
Founded in 1973 and led by Timothy Kardish, President and CEO, Sussex Wire specializes in the design, manufacturing, and distribution of specialty metal parts and components utilizing cold-forming technology. The company specializes in critical custom applications in the medical device, healthcare consumables, aerospace, defense, consumer electronics, semi-conductor and hermetic assembly market segments.