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.
Distributors second-quarter sales were down 4.6% to $179.6 million.
Distributor reports solid Q3, as project sales rise 13 percent and MRO sales rise 10 percent.
Distributors second-quarter sales rise 24 percent to $93.9 million.
Robert Reymond of Burns & McDonnell joins distributors board of directors and audit committee.
Sales rise 8%; company marks third straight quarter of year-over-year growth.
Christopher Micklas brings 29 years experience in finance and operations.
Houston Wire & Cable reports $0.2 million loss in 2017.
Year-to-date sales up 21.4 percent year-over-year.
MRO sales increased 21 percent in the quarter.
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Company reports a loss of $6 million for the year.
