Carrollton, Georgia-based Southwire Company, LLC says it has reached a deal to acquire Kent, Washington-based Novinium Holdings, Inc., a cable rejuvenation solutions provider focused on electric utilities.
Novinium partners with utility companies to keep distribution systems operating, using the “most capitally efficient and environmentally friendly methods available,” Southwire said.
“We are very excited about the acquisition of Novinium at Southwire. Novinium’s cable rejuvenation system which extends the life of underground cables is an amazing value proposition for our existing and prospective customers whom we aim to serve,” said Thomas Courtney, vice president of services for Southwire. “This acquisition reaffirms Southwire’s leadership in the cable industry and will be a foundational element for the further development of field services within the newly formed Southwire Service & Solutions business.”