Radix Wire has been acquired by High Road Capital, a U.S. private equity fund that has completed 44 such investments in companies based in the U.S. and Canada.
A press release said that the company, which manufactures high-temperature and fire-resistant wire and cable, will now be called Radix Wire & Cable (RWC). Founded in 1944, the companyโs brands include Sil-A-Blendยฎ, DuraBlendยฎ, DuraFlexยฎ and the first 550ยฐC UL-listed wire.
Per the RWC website, it uses cell manufacturing to focus complete production responsibility with specific production teams. Its wire and cable products are used for OEM, maintenance, repair and operations, and fire protection applications, with products proven to perform in temperatures ranging from 150ยฐC to 1000ยฐC.
The release did not cite the selling price, but it did note that High Road Capital typically backs companies with revenues between $10 million and $100 million. โRadix is well positioned for continued growth, and we look forward to supporting the companyโs strong management team to execute on those growth strategies,โ said Ben Schnakenberg, a partner with High Road Capital.
The release said that Radix President Steve Demko, who along with other members of the management team invested in the transaction, will continue to lead the company. It added that High Roadโs investment will allow Radix to expand its product offering and add manufacturing capacity.
