Crossplane Capital has acquired Distributor Wire and Cable (DWC), a master distributor specializing in electrical wire and cable products.
Distributor Wire and Cable supplies specialty wire and cable products to electrical distributors and wholesalers across the United States. Operating from five warehouse locations, the company serves industrial, commercial, residential, and utility end markets.
DWC’s value-added services include custom-cut orders, inventory management, striping, dyeing, twisting, bundling, and same-day shipping. DWC was founded in 2008 by Bryce Huett and is headquartered near Denver in Aurora, Colorado.
“We are excited to be partnering with Bryce and the DWC team at what we believe to be an inflection point for the company,” said Mike Sullivan, a partner at Crossplane. “DWC’s talented management team, combined with its value proposition to both suppliers and customers, has it well positioned to take advantage of a substantial and growing market for electrical wire and cable as the demand for power transmission and the consumption of electricity continues to increase throughout the United States.”
“Since founding DWC, we have focused on building a culture of growth and collaboration, and the partnership with Crossplane will help us continue that legacy as we take the company into its next chapter and to the next level,” said Mr. Huett. “We look forward to continuing to bring value to our distributor partners, with even more resources and at a larger scale.”
“With best-in-class service to its customers and a robust use of technology, DWC is uniquely positioned within the electrical wire and cable distribution industry,” said Michael Bertrand, a vice president at Crossplane. “We look forward to working with the DWC team to leverage the company’s brand and deep customer and supplier relationships as we pursue growth initiatives together that will add new products, capabilities, and geographic coverage, further strengthening DWC’s position in the market.”
Crossplane Capital invests in North America-headquartered companies with $40 million to $200 million in revenue and $5 million to $15 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, and industrial business services companies. Crossplane’s most recent fund, Crossplane Capital Fund II LP, closed in March 2023 at $325 million.
Crossplane was founded in October 2018 by its managing partners Brian Hegi and Ben Eakes, both former managing directors of Prophet Equity, and they were joined at the firm’s launch by Partner Mike Sullivan and Operating Partner Ingrid West.
© 2024 Private Equity Professional | December 12, 2024
