International Wire Group Holdings, Inc. (IWG)โwhich per its website is the largest bare copper wire and copper wire products manufacturer in the U.S., with operations in Europeโannounced that it has agreed to be acquired by affiliates of Atlas Holdings LLC (Atlas) for $10.70 a share.
A press release said that IWGโs board of directors unanimously approved the transaction, and recommended that stock holders approve the deal. Atlas owns and operates 18 manufacturing and distribution businesses, with more than 17,000 employees and 150 facilities worldwide. Those sectors include automotive products and services, building materials, capital equipment, chemicals, construction, energy, equipment fabrication, industrial distribution, metals and metal fabrication, packaging and paper products.
The transaction, the release said, is also subject to approvals. If the deal goes forward, it would be expected to close early in the second quarter of 2019..
IWG, based in Camden, New York, with its subsidiaries, manufacture and market wire products that include bare and tin-plated copper wire, engineered wire products and high performance conductors for other insulated wire manufacturers and OEMs. It also has facilities in France, Italy and Poland.
Per its webpage, IWGโformed in 1995 through the combination of Wirekraft Industries and Omega Wire, joined that year by Ristance Corporation and Electro Components De Mexicoโsaw considerable growth in the following years. It expanded in 1996 with the addition of Dekko Wire Technologies amd Camden Wire in 1997, Spargo Wire and Italtrecce in 1998, Forissier in 1999, PD High Performance Conductors in 2006, Hamilton Products in 2008, Global Wire (Wyre Wynd, Negev, Montgomery Wire) in 2008 and Ffhoenix Cuivre in 2011.
