Brady Corporation, which operates in the security space with Brady People ID, announced today that it had acquired a Milan, Italy-based manufacturer of products for identifying wires and cables.
The company, Modernotecnica, produces items such as wire markers, electrical signage, names plates, face plates, and cable management accessories, as well as software and printers designed for wire marking. Modernotechnica dates back to 1940 and has annual sales of roughly $15.5 million. Fourty-four persons are employed by the company.
According to Peter Sephton, president of Brady Corporation's European division, the impact will be most heavy in Europe, where the acquisition will aid Brady in expanding sales channels, and create "complementary" identification product sales.
According to Mike MacDonald, U.S. national sales manager for Brady People ID, there is no immediate intention to bring this wiring identifcation product group to the U.S. market. MacDonald noted that Brady is already one of the top wire-marking firms in the U.S. and that the U.S. division already has some similar products for tasks such as security wiring installations.
Terms of the acquisition were not released.
