The merger will result in maximizing the companies’ highly complementary businesses, products, and national footprint to better meet the needs of their respective customers.
April 02, 2021
Houston Wire & Cable Company (HWCC) and Omni Cable, LLC (OmniCable) have entered into a definitive agreement under which OmniCable will acquire all outstanding shares of HWCC common stock for USD 5.30 per share in an all-cash transaction valued at USD 91 million.
The combined company results in a national wire and cable redistribution industry leader that will maximize OmniCable’s and HWCC’s highly complementary businesses, products and national footprint to better meet the needs of both companies’ customers.
James L. Pokluda III, HWCC’s President & CEO, commented, “HWCC, Vertex and OmniCable are highly respected suppliers in their respective markets serving electrical and industrial distributors throughout the U.S. and Canada. This merger creates an outstanding combination of leading businesses that will be well positioned to provide increased value and customer service to its redistributor partners.”
The combined company also will continue HWCC’s fastener redistribution business. Following the close of the transaction, each company will retain its own brands and its existing locations.
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Jeff Siegfried, OmniCable founder, and vice-chairman affirms, “our shared central focus on redistribution, logistical expertise, and unyielding pursuit of perfection for our business partners will drive both businesses to enhance the value that we bring to the marketplace. We look forward to continued growth and the shared learning we know will come from this new relationship.”
