OmniCable Completes Acquisition of Houston Wire & Cable Company
16 June 2021 - 6:40AM
Houston Wire & Cable Company (NASDAQ: HWCC) (HWCC) and Omni
Cable, LLC (OmniCable) today announced that the acquisition of HWCC
by OmniCable has been completed, following approval of the
transaction by HWCC stockholders at a special meeting earlier
today.
The transaction was announced on March 25, 2021. Under the terms
of the merger agreement, HWCC stockholders will receive $5.30 in
cash for each share of HWCC common stock they hold. As a result of
the completion of the merger, HWCC common stock will be removed
from listing on the Nasdaq Global Market, and Nasdaq will suspend
trading in HWCC shares as of the close of business today.
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.
The combined company also will continue Vertex, HWCC’s fastener
redistribution business. Following the close of the transaction,
the company will retain both brands and its existing locations. “We
are thrilled to welcome the HWCC team to OmniCable as it brings
together two winning traditions to form one world class
company. We will maintain both brands because of the strong
customer relationships each has built over the years,” said Greg
Lampert, OmniCable President and CEO. “Offering both brands allows
our customers a choice and to work with their preferred
partner.”
About OmniCable
Omni Cable, LLC (OmniCable) is a premier redistributor of wire
and cable, electrical products, and value-added services. OmniCable
empowers the industry to be successful by providing an exceptional
experience through operational excellence, accuracy and precision,
and a partnership approach. Stocking locations include
Philadelphia, PA; Atlanta, GA; Boston, MA; Charlotte, NC; Chicago,
IL; Cincinnati, OH; Denver, CO; Houston, TX; Los Angeles, CA; San
Francisco, CA; Seattle, WA; St. Louis, MO, Tampa, FL, Cincinnati,
OH, and Toronto, ON.
About HWCC
With 45 years’ experience in the industry, Houston Wire &
Cable Company, an industrial distributor, is a large provider of
wire and cable and fastener products in the U.S. market.
Headquartered in Houston, Texas, the Company has sales and
distribution facilities strategically located throughout the United
States.
Comprehensive value-added services include same-day shipping,
knowledgeable sales staff, inventory management programs,
just-in-time delivery, logistics support, customized online
ordering capabilities and 24/7/365 service.
Contact Information
For OmniCable and HWCC:
Courtney Serio
Corporate Communications Manager
Direct: 610-235-0638
Email: cserio@omnicable.com
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