Federal Hose Manufacturing in Painesville, Ohio, recently acquired Marine Products International in Eastlake, Ohio. Terms were not disclosed.
MPI manufactures and distributes rubber and plastic hosing to the boating industry. Federal Hose also manufactures hosing. The two companies are now owned by Crawford United, a holding company that acquired Federal Hosing in 2016.
The acquisition of MPI is expected to add $18 million in annual sales to Federal Hose Manufacturing, according to a statement.
“The recreational boating market is a growth market around the world, and we sell around the world,” Crawford United CEO Brian Powers said in the statement. “In good times and bad, people still go fishing.”
MPI will continue to operate under its name and all current staff will be retained.