South Yorkshire wire manufacturer acquired by Canadian firm
A ROTHERHAM manufacturer and distributor of stainless and nickel alloy wire has been acquired by Canadian firm Central Wire Industries.
Hempel Wire was purchased from Hempel Special Metals Holding GmbH, an international distributer of specialty metals, part of the F.W. Hempel & Co Group of companies, headquartered in Oberhausen, Germany.
Hempel Wire manufactures and distributes both round and profile wire in a wide variety of alloys, including virtually all stainless steels and nickel alloys.
Founded in Rotherham in 1983, Hempel Wire reported sales of £9m last year and has approximately 45 employees.
Central Wire Industries, founded in 1955 and headquartered in Ontario, Canada, manufactures and distributes stainless steel, nickel alloy, and copper and brass wire products throughout the world. The company, which maintains eight manufacturing facilities – six in the United States and two in Canada – has 360 employees.
Central Wire provides products to many major industries, including aerospace, petrochemical, food-processing, medical, automotive, and marine.
The acquisition comes after Hempel Wire’s recent purchase of certain trademarks, trade names, and intellectual property from Fox Wire in neighbouring Sheffield, enabling Hempel Wire to take a position as the leading supplier of round and shaped stainless steel wire in the UK.
As a result of the transaction, Hempel Wire plans to change its name to Central Wire Industries UK in the near future.
Hempel Wire’s managing director James Roper will continue in that role and manage the on-going business for Central Wire Industries.
“This acquisition significantly broadens the product offerings of CWI, expands our reach in existing markets, and enables new market opportunities,” said Paul From, president and CEO of Central Wire Industries. “We are truly pleased to make this announcement and are delighted to welcome James Roper and the Hempel Wire team and business into the CWI Group.”
André Hempel, managingdDirector of Hempel Special Metals, said: “The sale of Hempel Wire to Central Wire Industries allows us to focus on and further develop our core specialism of international distribution of corrosion and heat resistant high performance materials and components. We wish the team at Hempel Wire all the very best for the future and we are sure that the benefits of past cooperation will be transferred to the new organisation.”
Alex Kilgour, Lara Vos Smith, and Gary Smith of Dentons acted as Canadian and UK legal advisers to Central Wire Industries, and KPMG provided deal advisory services.
Hempel Special Metals was advised by Jim Whittaker and Alan Metcalfe of Baker Tilly Corporate Finance and David Strachan, Karen Crutchley, and Lucy Holroyd of Schofield Sweeney.
