Cleveland, Ohio (June 28, 2006)—Emprise Partners announced the engagement by American Spring Wire Corp. to conduct an acquisition search for strategic investment opportunities that complement American Spring Wire’s existing operations and could benefit by access to the company’s manufactured wire, customer relationships, and management capabilities.
American Spring Wire is North America’s largest manufacturer of valve and commercial quality wire used in the automotive, agricultural equipment, and appliance industries from its three plants in Cleveland, Ohio; Houston, Texas; and Kankakee, Illinois. The company’s product line includes valve spring and commercial-grade wire in carbon and alloy steels; in round, flat and shaped profiles; and in diameters from .035” (0.90 mm) to .625” (0.16 mm). Wire manufactured by American Spring Wire can be coiled on spools, reel-less cores, steel reels, or on carriers.
In addition, American Spring Wire manufactures high-quality PC strand for use in the construction of concrete structures including bridges, parking decks, and commercial and industrial buildings. The company’s PC strand is made of high-carbon US-produced steel as seven-strand cable in both stress-relieved and low-relaxation grades. Consistent product quality, readily available inventories, and responsive customer service are hallmarks of American Spring Wire’s commitment to the concrete construction industry. For more information, visit http://www.americanspringwire.com.
Tim Selhorst, President of American Spring Wire, said, “With our strong management team in place, we bring significant capabilities to an acquisition. We are looking for companies that sell business-to-business and that manufacture parts or semi-finished materials with a manageable market and product sophistication. Examples include manufacturers of window regulator springs, suspension or brake springs, chain, wire mesh, bearings, hex keys, or other tools made from steel long products, bolts, studs, threaded rods, or fasteners.”
Mathew Hanson, Managing Director, Emprise Partners, said, “We are excited about the opportunity to work along with American Spring Wire. We will be looking for companies with sales of $10 million to $25 million and EBITDA of $1 million and greater. Opportunities may be most attractive to American Spring Wire if the business uses spring wire or other wire products in its final product.”
Emprise Partners is a merchant-banking firm that provides buy-side representation to corporations, private-equity groups, and industry specific management teams in the middle market. As a financial partner, the Company assists in the acquisition and growth of businesses with proprietary products or defensible niche positions. For additional information about Emprise Partners, visit http://www.emprisepartners.us