Bluebox advises on sale of Premier Cables

Bluebox Corporate Finance is delighted to announce the sale of Premier Cables Limited, a UK-based distributor of industrial cable and accessories to IEWC Corp., a US-based distributor of wire and cable management products.

Premier Cables, which enjoys revenue in excess of £30m and employees over 50 staff, is one of the UK’s foremost distributors of cable and accessories to various infrastructure, broadcast and alternative energy projects, both directly and through wholesalers. Owned and operated by three business partners, Jeff Weinstein, Ray Weinstein and Anthony Hopkins, the company has seen significant growth over the years on the back of their strong, effective leadership.

The Company operates from four sites across the UK and the three founders are remaining with the business following its acquisition. Jeff Weinstein is also appointed as Managing Director of IEWC’s newly formed Infrastructure Division.

The cross-border sale represents yet another successful exit for Bluebox and provides further evidence of an ability to access international buyers in an increasingly global M&A market.  Pricing and other transaction details were not disclosed, but the consideration represented a strong multiple of Premier Cables’ 2015 EBITDA.

Jeff Weinstein of Premier Cables commented “When selecting our adviser, it was extremely important that they had access to international buyers and were experienced in cross-border M&A. The team at Bluebox proved to be invaluable by identifying a strategic acquirer from America who was not known to us and by negotiating an excellent deal for all parties.  I was also impressed with the process management from Bluebox, which ensured that the deal was closed in a timely fashion.  Focusing on the future, we are all excited about the next stage in Premier Cables’ history within the IEWC stable.”

Jonathan Rich of Bluebox commented “We are delighted with the sale of Premier Cables to IEWC.  The transaction has not only provided our client with a lucrative exit, but also the ability to leverage the substantial infrastructure of IEWC in the coming years.  This deal highlights the importance of thorough preparation as well as the importance of identifying the right strategic acquirers from across the globe.“

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