Wire and Cable Company Acquired by International Buyer
Southport, CT -
Carter Morse & Mathias ("CMM") is pleased to announce that it served as the exclusive financial advisor to a confidential specialized industrial wire company ("Client") in its sale to an undisclosed international strategic buyer. Terms of the transaction were not disclosed.
Founded more than 60 years ago, our Client has been a leading manufacturer of specialty small diameter wire, wire rope and cable, cable assemblies, and cable hardware (fittings, terminals) to the industrial, aerospace and defense, distribution and medical markets. Our Client has two manufacturing operations in the United States. Our Client is the only vertically integrated manufacturer of aircraft control cable and assemblies: drawing wire, stranding into cable, manufacturing end fittings, and producing cable assemblies in North America.
"The Company is a second-generation family owned company and we were looking for a synergistic buyer that would continue the company's commitment to its employees, customers, and business partners, to accelerate the development and production of the highest quality products and to uphold the company's legacy in the industry and our communities. We found the perfect buyer," said the majority shareholder of our Client.
Our Client's President commented, "We are excited to join the buyer's family. We are certain that the combination of these complementary businesses will provide a multitude of benefits, not the least of which is a company with both the strength and expertise to better serve all of our customers' needs."
The international strategic buyer is a family owned company that manufactures and distributes specialty alloy wire and cable products from its 12 plants, some of which are in the United States. They sell their products to more than 50 countries.
The President of the strategic buyer said, "The addition of this company to the our family of companies continues our strategy of broadening and diversifying product offerings and markets' served around our industry-leading stainless and nickel alloy wire business."
Michael Carter, Managing Partner of CMM, explained, "We are very proud of working with the client's family and the management team to close this transaction. This transaction is another example of our expertise helping privately held businesses prepare for a transaction and execute a disciplined process that balances maximizing value with finding the ideal buyer that meets the many needs of family businesses."
Other transaction advisors for our Client include: Robinson & Cole, who served as legal advisors, RSM who provided a quality of earnings report, Charles Sellon, as a trusted family advisor and PWC, as tax advisors.
Located in Southport, Connecticut, Carter Morse & Mathias is a boutique investment bank specializing in advising owners of privately held middle market companies valued between $20 million and $200 million. We specialize in helping owners of leading companies in unique and niche markets plan, execute, and close transactions that maximize shareholder value.
While CMM provides a full range of investment banking services such as business sales and divestitures, equity and debt capital raises, acquisition services and pre-transaction advisory services, our primary focus is representing sellers in their on their once-in-a-lifetime M&A transactions.
For more than 30 years, the combination of our hands-on approach, senior banker attention, strategic guidance, seamless transaction execution and extensive network of domestic and international resources has enabled us to help hundreds of business owners plan, execute, and close successful transactions.
CMM's Broker/Dealer affiliate, Carter Capital Corporation, is a FINRA member firm registered with the SEC and SIPC.
For more information, please visit us online at: www.cartermorse.com