B3 Cables makes double swoop

MANCHESTER-based B3 Cables has bought two UK-based firms in a deal that is expected to add more than £60m to its turnover.

The firm has acquired Tri-Wire, a manufacturer of copper wire based at Normanton in West Yorkshire, and Crawley-based copper cabling specialist Blue Helix. No value was disclosed for either deal.

Tri-Wire was purchased from French company Nexans. It makes bare and tinned copper wire used by firms in the automotive, data, power and specialised cables sectors. In 2010, the company declared a £238,000 loss on sales of £48.2m.

Meanwhile, Crawley-based Blue Helix has been sold by a management team led by managing director Colin Ryall. It employs 28 people making fibre optic and copper cabling for computer networks. In the year to August 31, 2010, it made a pre-tax profit of £861,000 on sales of £14.6m.

Kevin Samuel, commercial director at B3 said: “We are a leading provider of copper cabling and fibre optics solutions to a number of industries including the telecoms sector.

“These strategic acquisitions will strengthen our position and perfectly complement our extensive product portfolio.

“Tri-Wire is the only dedicated copper wire manufacturer in the UK and Ireland and enables B3 to secure a key product for the future.

“The acquisition of Blue Helix brings together a number of distinct product ranges that will help us become even more competitive in the internal networks marketplace.”

B3 Cables was set up five years ago to acquire the old BICC Cables plant at Blackley in north Manchester for £18m from its former US owner, Belden CDT, which had planned to close the business.

The rescue deal was put together by Manchester-based Aston Ventures and by its management team – both of whom remain as shareholders in the business. It has a turnover of £97.4m, and earlier this year agreed a £43.1m refinancing deal with PNC Business Credit.

B3 was advised on both deals by Manchester-based law firm George Davies.