Rotational molding machine maker Ferry Industries bought by holding company

Ferry Industries Inc., a leading rotational molding machinery manufacturer, has been purchased by Madison Industries, a Chicago-based holding company.

Stow, Ohio-based Ferry also produces Femco band-saws for structural honeycomb and flexible foam as well as its Quintax CNC machining centers for plastics and non-ferrous metals.

Harry Covington, president and owner of Ferry Industries for the past 33 years, continues as president and an owner. Ferry is the first company in Madison’s newly formed Madison Industrial Solutions group.

The terms of the deal have not been announced.

“Ferry will continue to be an independent operating company managed by our existing team and remain in Stow, Ohio,” Covington said in a statement. “Our goal is for Ferry to continue to grow and prosper as we supply RotoSpeed rotational molding machines, Femco band-saws and Quintax CNC routers to companies around the world.”