Middle-market investment bank Harris Williams & Co. (NYSE: PNC) announced that low-voltage wire and cable manufacturer and distributor Windy City Wire Cable & Technology Products, LLC (WCW) has completed a management buyout led by Rich Galgano, the company's co-founder and CEO.
The transaction was led by Bob Baltimore and Dave Kennedy from Harris Williams & Co.’s Specialty Distribution Group along with Patrick McNulty and Karl Kirkeby from the firm’s Industrials Group.
“WCW CEO Rich Galgano and his senior leadership team have done a remarkable job creating an industry-leading platform in the low-voltage wire and cable industry,” commented Baltimore, managing director for Specialty Distribution at Harris Williams & Co. “The company has exhibited an impressive track record of growth, and we wish Rich and the team continued success.”
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Harris Williams & Co. acted as the exclusive advisor to WCW, a portfolio company of Seidler Equity Partners (Marina del Rey, CA), a private investment firm with more than $1 billion in capital under management. “Our firm has enjoyed an extraordinarily productive 8-year partnership with Rich and his management team. We believe WCW is well positioned to continue its pattern of expansion and innovation,” said Bob Seidler, managing director of Seidler Equity.
Founded in 1994 and headquartered in Bolingbrook, IL, WCW is a major manufacturer and distributor of premium quality, low-voltage wire and cable for IP security and access control, fire and life-safety, building automation, audio-video and related applications. With a diverse customer base, the company serves thousands of the country’s leading low-voltage wire and cable integrators.
As WCW has exhibited an impressive track record of growth, the company's management team said it expects to prolong this historical trend with "the continued execution of organic initiatives, such as patent-protected product differentiation, industry-leading customer service, vertical integration and consistent order execution, as well as selectively targeted acquisition opportunities."
Learn more about Windy City at http://www.smartwire.com/.
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