M&A Deal Summary

HWI Partners Acquires Custom Cable Industries

On January 1, 2008, private equity firm HWI Partners acquired electrical equipment company Custom Cable Industries from Steelcase

Acquisition Highlights
  • This is HWI Partners’ 1st transaction in the Electrical Equipment sector.
  • This is HWI Partners’ 1st transaction in the United States.
  • This is HWI Partners’ 1st transaction in Florida.
Investment Fate
  • Custom Cable Industries went bankrupt in 2009.

M&A Deal Summary

Date 2008-01-01
Target Custom Cable Industries
Sector Electrical Equipment
Buyer(s) HWI Partners
Sellers(s) Steelcase
Deal Type Divestiture
Advisor(s) Bridgewood Advisors (Financial)

Target

Custom Cable Industries

Tampa, Florida, United States
Custom Cable Industries, Inc. is a manufacturer of voice, data and signal connectivity cables, assemblies and systems.

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Buyer(S) 1

Buyer

HWI Partners

Wilmington, Delaware, United States

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

HWI Partners LLC is a private equity firm that targets investments in East Coast consumer related businesses, such as professional services firms, niche manufacturers and specialty retailers. HWI looks for growth-oriented companies with $10 to $100 million in annual sales. Prospective companies also possess 'relatively simple operations, limited geographic locations and a manageable number of core products'. HWI Partners is based in Wilmington, Delaware.


DEAL STATS #
Overall 1 of 1
Sector: Electrical Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2008 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Custom Cable Industries

Tampa, Florida, United States

Custom Cable Industries, Inc. is a manufacturer of voice, data and signal connectivity cables, assemblies and systems.

Sell -

Seller(S) 1

SELLER

Steelcase

Grand Rapids, Michigan, United States

Category Company
Founded 1912
Sector Furniture
Employees11,300
Revenue 3.2B USD (2025)
DESCRIPTION
Entrance to Steelcase's corporate headquarters in Grand Rapids, Michigan.
Entrance to Steelcase's corporate headquarters in Grand Rapids, Michigan.

Steelcase provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products across a range of price points. The Company's furniture portfolio includes panel-based and freestanding furniture systems and complementary products such as storage, tables and ergonomic worktools. The Company's seating products include chairs which are highly ergonomic, seating that can be used in collaborative or casual settings and specialty seating for specific vertical markets such as healthcare and education. Steelcase's technology solutions support group collaboration by integrating furniture and technology. The Compay's interior architectural products include full and partial height walls and doors. Steelcase was founded in 1912 and is based in Grand Rapids, Michigan.


DEAL STATS #
Overall 1 of 2
Sector: Electrical Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 2
State: Florida M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-14 Ultra Group Company

Hong Kong, China

Ultra Group Company Ltd. is an office furniture manufacturer in China.

Buy $13M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-08 Smith System Manufacturing Co.

Plano, Texas, United States

Smith System Manufacturing Co. is a manufacturer of high quality furniture for the pre-K-12 education market designed to inspire better learning and improve outcomes for students. Smith System Manufacturing Co. was founded in 1905 and is based in Plano, Texas.

Buy -