Kennett Square, PA based HWI Partners, LLC announces the acquisition of Custom Cable Industries, Inc from global office furniture leader, Steelcase Inc. (SCS). The transaction was completed on July 15, 2008. The transaction was funded with a combination of equity, seller financing and a $14m one stop financing provided by ComVest Capital.
“We see tremendous value in “Custom Cable” says HWI Managing Partner and Custom Cable Chairman and CEO Martin K. Hunt. “Custom Cable’s capabilities are uniquely developed for its size and unrivaled in its market segment. With strategic partnerships in place with some of the world’s most admired companies, a 28-year reputation for product and service excellence, and highly dedicated personnel, Custom Cable has forged an established position among ‘top tier’ cable service providers. HWI plans to fully support and expand Custom Cable’s position.” Mr. Hunt concludes, “WHI is committed to paring its strategic vision, financial resources, and sales and marketing prowess to accelerate organic growth opportunities for Custom Cable and speed ongoing progress toward establishing Custom Cable as the premier cable services provider.”
About Custom Cable Industries:
Custom Cable Industries, Inc., founded in 1980 with headquarters in Tampa, FL, is a leading manufacturer and installer of voice, data and signal connectivity cables, assemblies and systems sold to corporate customers, major telecom service providers, OEMs and equipment resellers throughout the U.S. The Company’s product offering includes audio and video cables, patch cords, central office cables and fiber optic cables, among others. Custom Cable has particular expertise in high-value-added, specialty cable assemblies, and in projects where logistical support and frequent, short-lead-time deliveries are required.