Mazzella acquires Indusco Group
By D.Ann Shiffler07 July 2011
Mazzella Holding Company has acquired The Indusco Group. As a result of the acquisition, Mazzella Holding Company almost doubles in size and employs more than 300 people.
Indusco and Mazzella Lifting Technologies now form one of the largest independently-owned companies in the overhead lifting and rigging industries, the company said.
Indusco is a 103-year-old company based in Baltimore, MD and was previously owned by Howard Schloss. The company owns a network of rigging shops located along the East Coast and in the South. The network includes Indusco companies, J. Henry Holland Corp., Alabama Sling Center and Tennessee Sling Center.
In addition to its headquarters in Baltimore, MD, Indusco has additional locations in Capitol Heights, MD, Chicago, IL, Virginia Beach, VA, Hampton, VA, Birmingham, AL, Chattanooga, TN and Memphis, TN.
"Our employees are excited to combine forces with another experienced, family-owned industry leader," said Craig Hayward, president of Indusco. "Tony and I share a common vision with respect to building organizational strength through the implementation of best practices and continuing our growth through the acquisition of other family-owned and operated businesses within our industry."
Mazzella Lifting Technologies is a 57-year-old family-owned company based in Cleveland, OH. In addition to its status as a major Midwest provider of wire rope and rigging hardware, Mazzella Lifting Technologies also engineers and manufacturers below-the-hook lifting devices, manufacturers overhead cranes and services overhead cranes.
In addition to its headquarters in Cleveland, OH, Mazzella Lifting Technologies has additional locations in Canton. OH, Cincinnati, OH, Detroit, MI, Pittsburgh, PA and Charlotte, NC.
"The organization resulting from this acquisition offers far more than an expanded geographic footprint," said Tony Mazzella, president and CEO of Mazzella Lifting Technologies. "The enhanced product offering and value-added services will enable our team of experienced personnel an increased opportunity to grow market share and expand our relationships with our customers."
Tony Mazzella and Craig Hayward will be responsible for running Mazzella Holding Companies.