General Cable Buys PE-Backed Prestolite Wire

General Cable Corporation has acquired Prestolite Wire, a portfolio company of Liberty Lane Partners. BB&T Capital Markets served as financial advisor to Prestolite. Terms were not released.

On November 2, 2012, Prestolite Wire, LLC, a portfolio company of Liberty Lane Partners, was acquired by General Cable Corporation. BB&T Capital Markets served as the exclusive financial advisor to Prestolite.

Prestolite offers a broad range of wire and cable and wire harness products serving predominately transportation OEMs, tier 1 wire harness manufacturers and distribution customers. The company has vertically-integrated bulk wire and value-added assembly operations through its two manufacturing locations in Arkansas and Mexico. In 2011, Prestolite reported revenues of $170 million.

General Cable (NYSE:BGC), a Fortune 500 Company with approximately $6 billion in revenue, is a global manufacturer of copper, aluminum and fiber optic wire and cable products for the energy, industrial, specialty, construction and communications markets.

The BB&T Capital Markets Commercial & Industrial Investment Banking Group provides clients with industry expertise and flawless transaction execution. We offer M&A advisory and capital raising services across a variety of sectors including commercial and consumer durable goods, engineering and construction, building materials, industrial equipment and distribution, and flow control.

BB&T Capital Markets offers an integrated platform of investment banking, research, sales and trading, and corporate banking. Headquartered in Richmond, Va., with offices in Boston, Mass., Reston, Va., and La Jolla, Calif., we have specific expertise within six distinct industry verticals including Aerospace, Defense & Government Services; Automotive Aftermarket; Consumer; Commercial & Industrial; Financial Services; and Logistics & Transportation Services. Our commitment to industry expertise, combined with our resources as one of the nation’s largest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of each client.

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