Southwire Co., Carrollton, Ga., has agreed to purchase certain assets of American Insulated Wire Corp. (AIW), a subsidiary of Leviton Manufacturing Co. Inc., Melville, N.Y., that’s well known in the electrical industry as a manufacturer of portable cord, cordsets, electronic wire and cable and other cabling products. Last week’s NAED Western Conference in San Diego was buzzing with rumors of the acquisition.
Southwire will acquire the AIW brands and two manufacturing facilities in Douglas, Ga., and Coffeyville, Kan., both of which produce a variety of electrical wire and cable products for the commercial, industrial, retail and OEM markets. The purchase of AIW, which is now based in Mansfield, Mass., but for years was headquartered in Pawtucket, R.I., is expected to close by the end of February.
“Acquiring AIW will allow us to diversify our product offering while continuing to strengthen our position in our core copper building wire business,” said Stuart Thorn, Southwire CEO.
Leviton acquired AIW in 1936. Donald J. Hendler, Leviton President and CEO, said the company no longer fit into Leviton’s shift toward “more value-added systems and solutions.”
Archive for the ‘Mergers & Acquisitions’ Category
Southwire to Acquire AIW Assets
NESCO Acquires Densmore Electrical Supply
NESCO-Needham Electric Supply, Canton, Mass., has acquired certain assets of Densmore Electrical Supply, a single branch distributor in Rutland, Vt. Densmore will join forces with the Yankee Electric Supply Rutland branch, NESCO’s Vermont- and New Hampshire-based division.
Established in 1994, Densmore Electrical Supply is a family-owned and operated electrical distributor serving primarily residential contractors. Richard Densmore has been named branch manager for the merged Rutland operations.
Ranked #71 on Electrical Wholesaling’s “Top 200 Listing, NESCO has 17 branch locations throughout Massachusetts, New Hampshire and Vermont and retail national account offices in California, Massachusetts, New Jersey, New York, North Carolina and Ohio.
Emerson Network Power Combines Aperture & Avocent Business into New Division for Data Center Infrastructure Management
Emerson Network Power, St. Louis, is combining its Aperture and new Avocent businesses as a new division focused on helping data center customers better manage their infrastructure. This announcement follows the December news that Emerson’s completed its Avocent acquisition.
The new division is part of Emerson Network Power and is headquartered in Huntsville, Ala. The unit combines Avocent’s management systems division, which offers access and control of the physical aspects of network devices and servers, with Aperture’s powerful infrastructure software for a robust portfolio of data center infrastructure management solutions. Emerson acquired Aperture in February 2008.
The new division will be led by President Stephen C. Hassell, who previously served as Emerson Vice President and Chief Information Officer (CIO) since 2004. The division will report into Emerson Group Vice President Bob Bauer. As CIO, Hassell, was responsible for Emerson’s information technology strategy, including hardware, software, and services, as well as its telecommunications infrastructure. He came to Emerson from Invensys, where he served as CIO. Prior to Invensys, Hassell worked in Northrop Grumman’s Newport News division. He holds a bachelor’s degree in computer science from the United States Naval Academy and served as an officer in the U.S. Navy. He also holds a master’s in management from the Kellogg School at Northwestern University.
Tom Waun, president of Aperture, will take on additional responsibility as president of global sales and marketing for the new division, and will join Avocent management team members who will retain their existing roles.
For Oct. 6 Electrical Marketing posting on the acquisition, click here.
Lighting Manufacturer Acquires Electrical Contractor/ESCO
Energy Focus Inc., Solon, Ohio, a lighting manufacturer, has acquired Stones Rivers Companies LLC (SRC), Nashville, Tenn., an electrical contractor with an energy service division from TLC Investments LLC, in a transaction valued at approximately $5 million. The acquisition was completed Dec. 31. Joseph Kaveski, CEO, Energy Focus, said, “SRC’s business is based on retrofitting lighting systems in existing public sector buildings. Given the large open order log SRC brings to Energy Focus, we expect to start out 2010 with a dramatic growth in our energy services business.”
Energy Focus, Inc. is a manufacturer of energy-efficient lighting products with a strong focus in government work. Its customers include the U.S. government, state and local governmental agencies, supermarket chains, retail stores, museums, theme parks and casinos, hotels and swimming pool builders. Stones River Electric specializes in energy management systems, energy conservation projects, lighting upgrades, maintenance contracts and electrical/lighting installation and maintenance. Details
EIS acquires Fay Wire
EIS Inc., a distributor of electrical insulation and other process materials used in the electrical original equipment manufacturing (OEM) and motor repair markets, announced that they have acquired the assets of Fay Electric Wire Corp., Elmhurst, Ill. Fay is a distributor of electrical process materials to OEMs and repair facilities. EIS, with 2008 sales of $466 million, is a wholly-owned subsidiary of Genuine Parts Co., which also owns Motion Industries.
Ideal Industries Acquires Western Forge
Ideal Industries, Sycamore, Ill., has added to its hand-tool manufacturing capacity with the acquisition on New Years Eve of Western Forge, a tool manufacturer based in Colorado Springs, Colo. The company makes pliers, screwdrivers and adjustable wrenches at a 345,000-square-foot manufacturing plant in Colorado Springs. The move adds to Ideal’s emphasis on “made in America” products and expands its tool offering in OEM and retail markets.
Randy Thompson, a 22-year Ideal veteran, will lead Western Forge as general manager.
Rockwell Asserts Intentions to Remain Independent after Investment Analyst Publishes Report on GE Potential Interest in Company
In response to a J.P. Morgan investment analyst’s assessment that Rockwell Automation, Milwaukee, Wis., would be a “good fit” if GE built up its automation business, a Rockwell spokesperson said in Dec. 14 Reuters report that the company’s shareholders would be best served by the firm remaining independent.
A-D Technologies Sells Cable-Laying Equipment Business to Plumettaz
A-D Technologies, Knoxville, Tenn., is selling its cable laying equipment business marketed under the ARNCO brand name to Plumettaz Inc., Buford, Ga., a subsidiary of Plumettaz Holding SA, Bex, Switzerland, makers of the Plumett brand of cable-laying equipment. Concurrent with this sale, the two companies have entered into a distribution agreement where A-D Technologies will continue to offer placing equipment and trailers under the ARNCO name that are provided by Plumettaz Inc.
Schneider joins Alstom for deal to buy Areva T&D
Schneider Electric and Alstom won the right to exclusive negotiations to acquire Areva T&D, the transmission and distribution operations of French nuclear power company Areva. Schneider stands to get the medium voltage side of the business. Schneider and Alstom said they propose to jointly acquire Areva T&D for an equity value of €2.29 billion (about $3.5 billion).
According to Schneider Electric’s press release announcing the deal, Areva T&D’s activities are currently number three worldwide, with transmission moving to Alstom (around two thirds of the business) and distribution to Schneider Electric (about one third), would transform Schneider Electric and Alstom into two of this market’s global leaders with
• an upstream pole, with power generation provided by Alstom (turnkey power plants, turbines and generators), completed by transmission (very high and high voltage) transferred from Areva T&D to Alstom;
• a downstream pole, with electrical distribution of Schneider Electric reinforced by the medium voltage activities of Areva T&D.
Sonepar restructures to integrate Sonepar USA and Hagemeyer
Sonepar last month announced an overall restructuring along regional lines to integrate the operations of Hagemeyer North America (HNA) with its Sonepar units. The combination is intended to enhance the company’s market coverage, delivery support and operational best practices.
The company announced in June that Dave Gabriel, region president, North America, and Kathy Rusko, region CFO, North America, have leadership responsibility for all Sonepar operations in Canada, Mexico, and the United States. The rest of the organization is now structured along the following lines:
Paul Klasing will continue in his role as president of Sonepar USA with expanded responsibilities to include Hagemeyer USA. Klasing will report to Gabriel.
Jay Bricker, currently the senior vice president of supplier and vendor relations, marketing, communications and business development for Sonepar USA, will continue in his role with his responsibilities now expanded to include electrical supplier and vendor negotiations for Hagemeyer USA. (Hagemeyer USA’s contact for Industrial and Safety suppliers partners remains unchanged.) Bricker will report to Klasing.
Lisa Mitchell, currently the CFO of Hagemeyer North America, has been appointed president of Hagemeyer USA. She will be responsible for all segments of the HNA business with the exception of Tristate and Georgia business locations, and will report to Klasing.
For more on the regional organizations, go to electricalmarketing.com. (Subscription required)