March 22, 2017 | Blake Mossy
Sussex Wire entered into in an agreement to acquire Marox Corporation, a manufacturer in computer numeric control (CNC) precision machined orthopedic implants and instruments.
Marox, founded in 1951, and headquartered in Holyoke, MA, is a traditional metal working/machining subcontractor that utilizes CNC multi-axis machining and Additive Manufacturing technologies and serves the medical device and aerospace industries. Within medical devices, the company focuses on implant systems for the spine, hip, knee and extremity sectors. CNC Machining is a manufacturing process that automates the operation of machine tools through programmed computer commands, while Additive Manufacturing, also known as 3D printing, is a manufacturing process in which 3D objects are built layer-upon-layer of successive material.
Sussex Wire, founded in 1973, and headquartered in Easton, PA, is a manufacturer that utilizes a cold forming manufacturing process to form metal wire and specialty alloys at room temperatures into highly engineered and precision, micro-miniature components. Within the medical device space, Sussex provides tubular parts, staples, drive wires and insert screws. Therefore, this transaction combines two entities with complementary, but different, manufacturing platforms, and supports both companies strategic initiatives to develop more diverse and cost-effective capabilities to address their clients’ needs.
Under the terms of the agreement, Sussex Wire and MAROX will continue to operate as separate entities, and each retain their respective management teams and employee base.
The acquisition was supported by Argosy Private Equity, a lower middle market private equity firm, which is an investor of Sussex.