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Photo 226496518 / Mohd Izzuan Ros / Dreamstime
Photo 226496518 / Mohd Izzuan Ros / Dreamstime
Photo 226496518 / Mohd Izzuan Ros / Dreamstime
Photo 226496518 / Mohd Izzuan Ros / Dreamstime
Photo 226496518 /Mohd Izzuan Ros / Dreamstime
Photo 226496518 / Mohd Izuan Ros / Dreamstime
Ewweb 588 Copperwire
Ewweb 588 Copperwire
Ewweb 588 Copperwire
Ewweb 588 Copperwire
Ewweb 588 Copperwire

Southwire To Acquire Coleman Cable

Dec. 20, 2013

In a blockbuster move in wire and cable, privately held wire giant Southwire, Carrollton, Ga., announced that it will acquire publicly traded Coleman Cable, Waukegan, Ill., and a deal valued at approximately $786 million. Under the companies' definitive merger agreement, Southwire will acquire Coleman for $26.25 per share in cash, including the assumption of $294 million in net debt. Coleman's board unanimously approved the deal, which the companies expect to close in the the first quarter of 2014.

Until the merger is complete, Southwire and Coleman will continue to operate as separate companies. After the deal closes, Coleman's management team will join Southwire. Southwire expects to maintain a significant presence in Waukegan. 

"The combination of Southwire and Coleman will create one of the wire and cable industry's preeminent companies with the ability to provide world-class service to its customers through a more robust and higher-quality offering of products and services, operational excellence and a stronger platform for enhanced product innovation," said Stuart Thorn, president and chief executive officer of Southwire.  "Coleman's exceptional engineering capabilities across multiple end markets and stellar reputation among customers make it an ideal fit with Southwire.  Our shared focus on technology and innovation will allow us to better serve our respective customers, while also saving them time and money. Southwire's outstanding team of motivated, loyal and experienced people is one of our greatest strengths, and we look forward to welcoming the talented and dedicated Coleman team to the Southwire family, where together we will achieve new levels of growth, innovation and service."