Huntersville-based electrical supply manufacturer NSI Industries announced Thursday its merger with Newbury Park, California-based electrical supplier Platinum Tools Inc. for an undisclosed amount.
NSI Industries provides products for electrical contractors and their customers such as electrical tape, cable cutters, and emergency exits signs.
The merger will allow NSI Industries to expand its market reach and product lineup.
“The Platinum Tools product portfolio is entirely complementary to our NSI electrical solutions and will add immediate category depth,” said G.R. Schrotenboer, NSI Industries CEO, in a statement.
With the merger, NSI will be able to introduce products such as cable management hooks, connectors — like those at the end of dial-up and ethernet cables — and tool bags and kits to its customers.
“Our new combined strength, including our mutual commitments to delivering outstanding attention and service to our customers, creates substantial opportunities for us to offer a broad array of unique and industry-leading solutions to our customers,” said Lee Sachs, Platinum Tools president, in a statement.
Approximately 40 Platinum Tools employees will continue to work from their original Newbury Park, California, location.