By Peter Saunders
March 11, 2019 – Affiliates of Atlas Holdings, a private investment and equity firm that owns and operates 18 manufacturing and distribution businesses, have entered a definitive merger agreement to acquire International Wire Group (IWG) Holdings, which produces and markets a range of wiring products.
IWG’s subsidiaries manufacture bare, silver-plated, nickel-plated and tin-plated copper wire, engineered wire products, gauges and high-performance conductors. Their customers include distributors, other wire suppliers and original equipment manufacturers (OEMs).
Atlas, which currently employs more than 17,000 associates at more than 150 facilities around the world, plans to acquire all outstanding shares of IWG’s common stock for US$10.70 per share in cash. Its board of directors has approved the transaction.
Next, the transaction is subject to stockholder and regulatory approvals. It is expected to close early in the second quarter (Q2) of 2019 and is not subject to a financing condition.