Greenlee, a Textron Inc. company, announced today it is buying Sherman & Reilly, Inc., a Chattanooga-based manufacturer of underground and aerial transmission and distribution products.
Founded in 1927, Sherman & Reilly is the leading U.S. maker of pulling and stringing equipment for the power utility segment and currently employs 110 workers.
Terms of the sale were not disclosed.
Scott Hall, president of Greenlee and the Textron Induutrial Segment, said Sherman & Reilly "is an acknowledged leader in heavy pulling products for distribution and transmission applications" and is "a logical complement" to Greenlee Utility and Gator products.
"Like Greenlee Utility, the company has a strong brand built on innovation and service to the utility professional," Hall said in a statement announcing the purchase.
Mike Dunn, general manager of Sherman and Reilly, said the combination "will further accelerate our growth and provide new opportunities for our talented employees."
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 Dunn.