A week after announcing its mergers with ElectroRep, Sausalitio, CA, and RB Sales, Hiawatha, IA, Forward Solutions, a provider of centralized growth services for independent manufacturers’ reps in a broad array of market niches, completed the acquisitions of Madigan McCune & Associates, Orlando, and Upper Midwest Utility Sales, Maple Lake, MN.
Madigan McCune was founded in 1971 and services utility, telecom and power manufacturers in the Southeast. Upper Midwest Utility Sales was founded in 1992 and services utility, telecom and power manufacturers in the Southeast. These companies will merge into StruXur, Forward Solutions’ existing utility, telecom and power division. Combined, StruXur will now have geographic coverage across the East Coast, Southeast and Midwest, and its product offering includes network testing equipment, cables, transformers, grips, switches, personal tools, safety products, and cable installation, repair, identification and locating equipment, among others.
Joe Orednick, President & CEO of Forward Solutions, said in the press release, “To be able to welcome Madigan, McCune & Associatesand Upper Midwest Utility Sales into the Forward Solutions portfolio is a win for us all, and their merger with StruXur represents exciting growth opportunities as we strategically invest and expand our presence in the telecom and power utility channels.”
Forward Solutions is a portfolio company of the Tampa-based Osceola Capital, a private equity firm. They have closed 22 acquisitions since the Forward Solutions platform’s inception five years ago.
Patrick Watkins, partner at Osceola Capital, added in the press release, “Forward Solutions has shown a differentiated ability to expand each of its existing product categories to national footprints while simultaneously establishing new product categories through M&A. The company’s acquisition strategy paired with its organic growth playbook allow Forward to continue building its outsourced sales and marketing business in the U.S.”