The Rhône Group, a U.S.-based global private equity firm, has acquired Copperweld Bimetallics (Copperweld) from Kinderhook Industries for an undisclosed price.

A Sept. 9 press release from Kinderhook—which acquired Copperweld in 2019 from THL Credit Advisors—reported the sale. Copperweld, founded in 1915, was described as the sole U.S. manufacturer dedicated to copper-clad (CCS) and aluminum-clad (CCA) wire. Its products are used in building wire, utilities, infrastructure, renewable energy and mobile technology markets.

Based in Fayetteville, Tennessee, Copperweld’s business includes additional plants in Texas and the U.K., and a distribution center in Belgium, with total employment near 400. Copperweld will continue to operate under its current management.

Kinderhook noted that during its ownership, Copperweld grew into a $65 million business by scaling operations and acquisitions, which included the 2020 purchase of Seminole Wire & Cable Co. Kinderhook continues to hold two distributors of wire, Kingwire and Cameron Wire & Cable, the latter of which also provides value-added services.

The Rhône Group is a global private equity firm with about $11 billion in assets under management, specializes in middle-market and larger investments across industrials, consumer, energy, materials, and healthcare sectors. This marks its lone activity for wire and cable.