NAPLES — Pelican Wire acquired Rubadue Wire of Greeley, Colo. Terms of the deal were not disclosed.
Pelican and Rubadue manufacture special wires and cables for a wide range of uses, from the aeronautical to housing industries. Its wires are used for temperature measurement and electrical heating.
“This was a perfect opportunity to expand our business with a well-run, quality focused company playing a niche role in the wire and cable industry” says Ted Bill, president of Pelican Wire, in a statement.
The two companies will be united as sister companies operating under the umbrella of Pelican Holdings Group. Rubadue Wire will maintain its brand, facility and management team in Greeley. Pelican Wire will continue to operate out of its Naples Florida facility.
The Pelican Holdings Group was formed to better organize the assets of Pelican Wire and to set up the structure for future growth, the company says. Pelican Holdings is fully owned by its employees.
“We created Pelican Holdings group to manage our expansion plans and to continue to increase shareholder value for our employee owners” says Bill, who will serve as CEO of Pelican Holdings Group, in a statement.