Nova Capital Management has completed the sale of its portfolio company Coast Wire & Plastic Tech to Alpha Wire, an American manufacturer of wire and cable products. Nova acquired Coast Wire in November 2012 as part of a portfolio of five industrial businesses previously owned by Latshaw Enterprises, a US based industrial holding company.
Coast Wire & Plastic Tech is a manufacturer of custom electronic wire and cable products for the medical, instrumentation and commercial electronic industries. The company is based south of Los Angeles in Carson, CA (www.coastwire.com).
“This exit comes ahead of schedule and has met expectations for all parties involved,” said Jan Kreminski, Nova’s Chicago-based Operating Partner. “It is in line with the portfolio strategy we envisaged at the time of the acquisition from Latshaw (Nova Capital Management Acquires Portfolio of Five US Industrial Businesses). We continue to concentrate our resources on the remaining three companies in this portfolio, furthering their development and growth.”
According to Mr. Kreminski, the exit for Coast Wire demonstrates Nova’s specialized capabilities in maximizing investor returns through building and strengthening its acquired portfolio companies by focusing on building management teams, implementing growth strategies, and augmenting core competencies. The result of this approach ultimately attracts a high level of strategic interest in Nova’s portfolio companies.
“Nova has been an excellent partner over the last three years and has invested substantially in our people, our infrastructure and our technology,” said Mark Vanderwoude, President & CEO of Coast Wire.
Nova specializes in acquiring multiple businesses in a single transaction. Since 2002, Nova has acquired or taken over the management of portfolios representing a total transactional value of over €1 billion. The firm currently manages investments in over 25 businesses primarily operating in Western Europe, North America and Asia across a range of sectors. The firm is based in London with additional offices in Chicago and Toronto (www.nova-cap.com).
2014 PEPD • Private Equity’s Leading News Magazine • 12-5-14
