Kinderhook-based Copperweld buys Seminole

Copperweld, which is backed by Kinderhook Industries LLC, has acquired Pennsauken, New Jersey-based Seminole Wire & Cable Co Inc, a provider of specialty wire and cable products.

Copperweld, which is backed by Kinderhook Industries LLC, has acquired Pennsauken, New Jersey-based Seminole Wire & Cable Co Inc, a provider of specialty wire and cable products. No financial terms were disclosed. Monroe Moxness Berg PA served as legal counsel to Copperweld on the deal.

PRESS RELEASE

New York, NY – Copperweld Group, Inc. (“Copperweld”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of Seminole Wire & Cable Co., Inc. (“Seminole” or the “Company”), a Pennsauken, NJ based supplier of specialty wire and cable products.

Founded in 1962, Seminole is a leading wire and cable manufacturer offering plastic-extruded wire products and value-added finishing capabilities. Seminole provides customized products for its customers across a variety of end markets and applications including blasting & connecting wire for mining, buried wire for pet containment and AV wire for broadcasting. Seminole also offers catered solutions to its clients, including support in research and development, product design and labeling/branding.

The acquisition of Seminole brings key value-added wire extrusion and other manufacturing capabilities in-house for Copperweld and ultimately takes the Copperweld brand directly to the end customer. Seminole also bolsters Copperweld’s wire finishing processes including cabling, braiding and assembly. Copperweld will leverage Seminole’s highly capable research and development team to promote quicker new product development and new advanced testing processes.

“Partnering with Seminole will allow Copperweld to have more direct relationships and interaction with end users, ultimately allowing us to better serve our customers,” said Craig York, Chief Executive Officer of Copperweld. “Furthermore, Copperweld will be able to offer bimetallic solutions to many Seminole customers currently using alternative products, as Copperweld bimetallics can offer better form, fit and function.”

“This strategic transaction provides upstream manufacturing capabilities that will support Copperweld production across multiple product lines as the business continues to grow” said Paul Cifelli, Managing Director at Kinderhook. “We look forward to seeing Copperweld leverage Seminole’s expertise in these production areas.”

“We are excited to combine the Copperweld and Seminole teams and begin collaboration on new innovative solutions,” said Nate Druckenmiller, Vice President at Kinderhook. “These businesses fit well together and expand the total addressable market for Copperweld’s products.”

Monroe Moxness Berg PA served as legal counsel to Copperweld.

About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $3.1 billion of committed capital. We have made in excess of 230 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.

For more information please visit: www.kinderhook.com

About Copperweld
Headquartered in Fayetteville, Tennessee, Copperweld is the leading supplier of bimetallic wiring products and the only domestic producer of copper clad steel (“CCS”) and copper clad aluminum (“CCA”) wire. Copperweld’s CCS and CCA products are well positioned based on product material characteristics (e.g., weight, durability, theft deterrence, etc.) and cost advantages to take market share from traditional copper wiring products.
For more information please visit: www.copperweld.com

About Seminole Wire & Cable
Headquartered in Pennsauken, New Jersey, Seminole is a leading wire and cable manufacturer offering plastic-extruded wire products and value-added finishing capabilities. Seminole customers represent a variety of applications and end markets including blasting & connecting wire for mining, buried pet containment wire, signal / radio wire and pyrotechnic wire. Seminole’s differentiated products have passed some of the most stringent industry tests across highly technical fields.

For more information please visit: www.seminolewire.com