Following the close of the $91 million transaction, OmniCable will retain both brands and its existing locations.
Latest In Houston Wire & Cable Company
OmniCable, a subsidiary of food distributor Dot Holdings Co., is acquiring the wire and cable provider for $5.30 a share.
Distributor announced the sale of its business division in January.
After unloading business in an asset sale, Houston Wire & Cable will use the proceeds to reduce revolver debt
Company unloads Mississippi-based distributor for $20 million in order to reduce debt.
After selling wholesale distributor of wire rope and rigging products for $20 million, HWCC expects to use the net sales proceeds to reduce debt.
MRO sales decreased 18 percent in the quarter.
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