TPC Wire & Cable Corp, which is owned by Audax Private Equity, has closed its buy of Enersave Wire & Cable. No financial terms were disclosed. Based in Mexico City, EWC is a distributor of TPC Wire & Cable products to the mining, oil and gas, automotive and steel markets in Mexico.
PRESS RELEASE
TPC Wire & Cable Corp. (TPC) is pleased to announce it has completed the acquisition of Enersave Wire & Cable (EWC). Founded in 1978, TPC is a producer of high performance, high quality wire, cable and connectors used in harsh industrial applications. TPC’s products serve a broad spectrum of industries including steel, utility, mining, automotive, food and beverage, government, oil and gas, nuclear, transportation and wood, pulp and paper markets. The acquisition of EWC is aligned with TPC’s strategy to further expand assembly services and product inventory into Mexico and will accelerate TPC’s growth in Mexico and elsewhere in Latin America through the addition of direct sales, local distribution and cable assembly capabilities.
TPC was acquired by Audax Private Equity in May 2015. Enersave is TPC’s first add-on under Audax ownership. The leadership team of EWC, Raul Ortega Sr. and Raul Ortega Jr., will remain with the business.
“We are excited to have Enersave become part of the TPC family,” said Steve Michalski, CEO of TPC Wire & Cable Corp. “The Ortegas have done a marvelous job of growing the TPC brand in Mexico and we are looking forward to continuing their endeavors with this new partnership. The acquisition allows us to increase our inventory of harsh industrial cables and accessories to better serve our customers in Mexico.”
About TPC Wire & Cable Corp.
TPC Wire & Cable Corp. is a leading supplier of wire, cable and connectors used in harsh industrial environments. TPC Wire & Cable’s products are designed and engineered to withstand severe conditions including abrasion, chemicals, constant flexing and extreme temperatures. TPC serves a variety of markets including the steel, utility, mining, automotive, food and beverage, government, oil and gas, transportation and wood, pulp and paper markets. The company’s long-lasting, dependable wire and cable products solve the most difficult application problems in the harshest environments resulting in lower overall costs and increased production time. For more information about TPC Wire & Cable products, visit http://www.tpcwire.com.
About Enersave
Enersave Wire & Cable, based in Mexico City, is a distributor of TPC Wire & Cable products to the mining, oil and gas, automotive, steel and other diversified end markets in Mexico. The company was founded in 2011 by Raul Ortega Sr. and Raul Ortega Jr. under a strategic partnership with TPC.
About Audax
Since the company’s founding in 1999, Audax Private Equity has been focused on building leading middle market companies by investing more than $3 billion in 89 platform and 432 add-on acquisitions. Audax partners with management teams that have the vision and drive to create much larger entities through acquisitions and organic growth. Through a disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. For more information about Audax Private Equity, visit http://www.audaxprivateequity.com.
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