TPC Wire & Cable Corp. last week announced the acquisition of Cicoil and Pittsburgh Wire & Cable to bolster its portfolio of specialized wire and cable solutions.
Both acquisitions were announced by Macedonia, Ohio-based TPC in news releases Sept. 30. TPC did not disclose the financial details of either acquisition.
Valencia, Calif.-based Cicoil makes flat cable and flat and round cable assemblies for the mil-aero, semiconductor and medical industries, according to a news release. In 2017, the company touted its kink-resistant cables, which are mechanically tough, yet extremely flexible cables that don’t require bulky insulating materials and fillers, which results in a more lightweight, flexible and tangle free cable design.
“We continue to execute our strategy of combining above market organic growth with acquisitions that diversify our product and service capabilities as well as the end markets we serve,” TPC president & CEO Jeff Crane said in prepared remarks. “We couldn’t be happier to welcome Cicoil and all of their associates to the TPC family. Howard and his strong team have built a great and growing business. Their deep technical expertise and commitment to R&D, combined with our commitment to solving customer problems will enable us to build on the success both companies have enjoyed. We are confident that this acquisition will better position both TPC and Cicoil to capture significant opportunities today and into the future.”
“Cicoil is very excited to become part of TPC Wire & Cable, as together we have significant capabilities that will allow us to expand our product and service offering and strengthen our market presence,” added Cicoil president & CEO Howard Lind. “We have been manufacturing mission-critical cables and cable assemblies since 1956, and the entire Cicoil team is committed to growing the company’s legacy with the TPC team.”
Pittsburgh Wire & Cable distributes high-end electrical solutions for the video inspection, mining and rail industries.TPC said the acquisition will allow it to expand its portfolio into new markets.
“A key aspect of our growth strategy is building onto our existing products and services by entering new markets where there’s a need to solve complex customer problems,” Crane said. “PWC is a great fit with our current offering of interconnect solutions and we are excited to leverage resources to accelerate growth in these key markets.”
“Our focus has always been to provide our customers with quality products and exceptional service,” added PWC president Jamie Carlowski. “The core values of TPC Wire & Cable complements our mission and will allow us to continue to grow the business for many years to come.”
