Central Wire Industries, a Perth, Ontario-based specialty wire and cable manufacturer, has been acquired by private equity firm Altair Industries. The deal places Central Wire within Altair’s portfolio of middle-market aerospace, defense and mission-critical industrial companies. Financial terms were not disclosed.
Founded in 1955 and headquartered in Perth, Ontario, Central Wire formed its current group structure through acquisitions and strategic investments. The company acquired Strand Core of Milton, Florida, in 2014; Hempel Wire Ltd. of Rotherham, England, in 2015; Sanlo Inc. of Michigan City, Indiana, in 2016; and Loos & Co. in 2018.
Those deals expanded Central Wire beyond stainless and nickel-alloy wire into strand, wire rope, profile wire, cable, cable assemblies and related products. The company’s holdings include Central Wire Industries, Central Wire Industries UK Ltd., Strand Core, Sanlo, Loos & Co. Wire Rope and Loos & Co. Cableware. Central Wire’s company profile also lists GD-SUPA Slicklines and CWI Welding.
The sale was described as a growth partnership. “We were looking for a partner who shared our commitment to scaling the business and operational excellence,” Central Wire President and CEO Paul From said. “Altair stood out to us because of their disciplined operating approach, hands-on partnership model, and deep understanding of the industries and customers we serve.”
Altair said it plans to work with Central Wire’s management team to improve operations, accelerate growth initiatives and invest in the company’s capacity, capabilities and employees. The announcement quoted From as president and CEO but did not disclose specific employment or retention agreements.
The company says it serves more than 3,000 customers annually in aerospace and defense, industrial, medical and energy markets. Its products include specialty wire and cable made from stainless steel, nickel alloys and red metals for applications requiring tight tolerances, corrosion resistance, reliability and durability.
The group operates across 11 manufacturing sites in the United States, Canada and Europe. It recently consolidated its Naples, Florida, facility into its Pomfret, Connecticut, facility, bringing aerospace and rope manufacturing under one roof. It has more than 750 employees. No other current Altair manufacturing portfolio company with directly overlapping wire, cable or alloy-product operations was identified in publicly available materials.
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