Seidler Equity Partners has sold its portfolio company Windy City Wire Cable & Technology Products (WCW) to the management team of the company led by Rich Galgano, co-founder and CEO.
WCW is a manufacturer and distributor of low-voltage wire and cable for security, access control, fire life-safety, building automation, audio-video and related applications. The company’s wire and cable products are sold under the SmartWire brand name. WCW was founded in 1994 and is headquartered near Chicago in Bolingbrook, IL (www.smartwire.com).
“Our firm has enjoyed an extraordinarily productive 8-year partnership with Rich Galgano and his management team. We believe WCW is well positioned to continue its pattern of expansion and innovation,” said Bob Seidler, managing director of Seidler Equity Partners.
Seidler Equity Partners invests in companies that have annual revenues of $25 million or more and EBITDA of $5 million to $50 million. The firm was founded in 1992 by brothers Peter Seidler and Robert Seidler. Seidler Equity Partners has more than $1 billion in capital under management and is headquartered in Marina del Rey, CA (www.sepfunds.com).
Harris Williams & Co. (www.harriswilliams.com) acted as the exclusive advisor to WCW. The transaction was led by Bob Baltimore and Dave Kennedy from Harris Williams & Co.’s Specialty Distribution Group along with Patrick McNulty and Karl Kirkeby from the firm’s Industrials Group.
“WCW CEO Rich Galgano and his senior leadership team have done a remarkable job creating an industry-leading platform in the low-voltage wire and cable industry,” said Mr. Baltimore, a managing director in Harris Williams & Co.’s Specialty Distribution Group. “The company has exhibited an impressive track record of growth, and we wish Rich Galgano and the team continued success.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-21-14