VRA Partners, LLC is pleased to announce that Southwire Company, LLC (“Southwire”) has acquired Sumner Manufacturing Co., Inc. (“Sumner”), a manufacturer of material lifts, jack stands, welding tools, material carts and other tools and equipment for the construction market. VRA Partners acted as the exclusive financial advisor to Southwire on this transaction. Terms of the transaction were not disclosed.
A leader in technology and innovation, Southwire is one of North America’s largest wire and cable producers. Southwire and its subsidiaries manufacture building wire and cable, metal-clad cable, portable and electronic cord products, utility products, OEM wire products and engineered products. Southwire’s Tools and Assembled Products Division manufactures and markets electrical tools and accessories for both commercial and consumer markets, with a focus on cable installations and categories adjacent to wire and cable. Southwire’s products include contractor equipment, hand tools, test and measuring devices, contractor electrical products, consumer electrical products and other job-completing accessories.
Headquartered in Houston, Texas, Sumner is a key supplier to the welding and mechanical contracting industries and has a market presence in more than 50 countries around the world. The acquisition includes manufacturing operations and corporate support functions in Houston and Langfang, China, as well as sales and distribution offices in Canada, the United Kingdom and the Netherlands. The addition of Sumner will welcome more than 160 employees to the Southwire workforce.
VRA Partners, an independent Atlanta-based investment bank, focuses on providing M&A services to leading middle-market companies and private equity firms. VRA Partners also assists companies with raising capital for growth, acquisitions, recapitalization, going-private and management buy-out transactions, and provides fairness opinions, valuations and strategic advisory services. The professionals of VRA Partners have completed more than 550 transactions across a broad range of industry sectors, including consumer and retail, business services, healthcare services and technology, industrial products and services, and technology and communications. VRA Partners, LLC is a Member FINRA/SIPC. For more information, please visit our website at www.vrapartners.com.