It’s just business: manufacturing moves from Eaton, 3M, Montana Knife company and more

The business of manufacturing never stops. Industrial companies merge, invest and strategically expand to keep competitive, even under adverse business conditions. Read on for more details on five such expansions and acquisitions made by industrial and manufacturing companies.

Acquisition: Eaton announced March 12 that it had finished its acquisition of Boyd Thermal for $9.5 billion. Previously announced in November 2025, the acquisition puts Boyd’s liquid cooling business under the same roof as Eaton’s more general power management portfolio. In the March 12 announcement, Eaton company leadership said its latest acquisition would help it meet increased demand for liquid cooling products as a result of increased investment in AI systems and data centers.

Investment: M&H Valve expects to spend $7.6 million at its Anniston, Alabama manufacturing plant to install automated production systems, according to the Alabama Department of Commerce. The company produces fire protection products like fire hydrants, butterfly valves, resilient wedge gate valves and check valves, according to its website. The latest move follows a previous $6.9 million CNC equipment, blast machinery and production space expansion. According to the Alabama Secretary of Commerce Ellen McNair, the sustained investments help position the state to lead in manufacturing.

Expansion: Elsewhere in Alabama, Phos Window announced it would spend $21 million and hire 100 to increase its production of vinyl windows in Fort Payne, Indiana. The newly-expanded factory will span 140,000 square feet and employ 150-200 employees, the company said via Alabama’s Department of Commerce. The state agency said in a statement the latest expansion is part of a growing “cluster” of construction equipment manufacturing in Northeast Alabama.

Expansion: Montana Knife Company announced March 23 that it would open a new factory in Missoula, Montana. The startup knife manufacturer didn’t specify how much the 51,000-square-foot factory would cost or how many the new factory would hire, but said the site, which will be its new headquarters, reinforces the company’s growth and investment in domestic manufacturing. The company says it will hold a ribbon-cutting event for the new site on April 11.

Acquisition: 3M Co. announced March 19 that it had purchased Madison Fire & Rescue, a manufacturer of fire suppression and rescue products, for $1.95 billion. The conglomerate said it plans to establish a joint venture with Bain Capital called Scott Safety, which will expand 3M’s reach into the fire safety products market. In a statement, 3M CEO William Brown said safety is a “priority vertical” for his company.