Coleman Cable, which manufactures electrical and electronic wire and cable products, has completed the acquisition of the assets of both First Capitol Wire & Cable and Continental Wire & Cable for a total purchase price of $7.15 million. The assets were primarily inventory, and production machinery and equipment.
First Capitol and Continental manufacture industrial wire and cable products used across a number of commercial, utility and industrial end markets. First Capitol produces a broad line of high-temperature wire and cable products used in OEM applications, as well as within a number of applications for the energy, commercial and industrial end markets.
“These two acquisitions represent a great opportunity for Coleman to expand its current product offering and build on our growing reputation for producing a wide assortment of high-quality industrial cables,” said Gary Yetman, Coleman’s president and CEO. “Further, they allow us to immediately expand our capabilities, product offerings and capacity in serving the growing needs of our industrial end-market customers, which continue to be a significant component of our overall platform.”
First Capitol and Continental, both based in York, Pa., were privately held entities under common ownership prior to the acquisition of their assets by Coleman Cable. The asset acquisitions were structured as all-cash transactions, both of which closed April 29.