Pass & Seymour/Legrand (Syracuse, NY), a producer of electrical wiring devices, has agreed to purchase the outstanding shares of Ortronics (Pawcatuck, CT), a manufacturer of premises-wiring products. An announcement of the agreement was made in mid-December by Stephen Orlando, chairman and chief executive of Ortronics, and William M. Nuckols, president of Pass & Seymour/Legrand. Terms of the agreement were not disclosed.
Their announcement stated that Ortronics will continue to operate as an independent company and maintain an independent sales force.
"Personal consideration led me to the decision to sell, but I selected a company that will maintain the Ortronics management team and provide our employees with more opportunities in the future," Orlando said.
"Our alliance with Pass & Seymour/Legrand opens many opportunities to accelerate the growth and profitability of our business," said Howard Odom, president of Ortronics.
Nuckols commented, "Ortronics`s position in premise-wiring products fits with Legrand`s position in the premise-wiring market outside of North America. Ortronics is also a strategic complement to Pass & Seymour/Legrand`s total product offering."
Ortronics has facilities in Connecticut, Florida, Costa Rica, the United Kingdom, Italy, Malaysia, and China.