American Wire Rope & Sling said Monday that it has reached an agreement to acquire the assets of Fort Wayne-based Material Handling Equipment Corp.

American Wire, a fabricator and supplier of wire rope slings, chain slings and other products, said the deal will allow it to diversify its offerings and expand its Midwest customer base.

Material Handling does forklift truck service and sales and has an engineered product services operation that builds overhead cranes for inside factories.

Financial terms of the deal were not disclosed.

Material Handling has about 40 employees at 7433 U.S. 30 E, said Todd M. Jacobs, a spokesman for Equity Capital Partners, an affiliate of ECP American Steel, which owns American Wire.

American Wire employs about 30 in Fort Wayne at 3122 Engle Road and has about 20 others at locations in Indianapolis and Mishawaka.

American Wire Rope & Sling said Monday that it has reached an agreement to acquire the assets of Fort Wayne-based Material Handling Equipment Corp.

American Wire, a fabricator and supplier of wire rope slings, chain slings and other products, said the deal will allow it to diversify its offerings and expand its Midwest customer base.

Material Handling does forklift truck service and sales and has an engineered product services operation that builds overhead cranes for inside factories.

Financial terms of the deal were not disclosed.

Material Handling has about 40 employees at 7433 U.S. 30 E, said Todd M. Jacobs, a spokesman for Equity Capital Partners, an affiliate of ECP American Steel, which owns American Wire.

American Wire employs about 30 in Fort Wayne at 3122 Engle Road and has about 20 others at locations in Indianapolis and Mishawaka.