CT-owned wire maker agrees to buy Pennsylvania-based copper-product company
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Atlas Partners' headquarters is located at 1 Station Place, in Stamford.
A wire company that is owned by two Connecticut-based private equity firms has agreed to acquire a Pennsylvania-based manufacturer of copper products.
Camden, New York-based International Wire Group, a portfolio company of Stamford-based private equity firm Olympus Partners and Greenwich-based holding company Atlas Holdings, entered into a definitive agreement to purchase Hussey Copper.
Hussey Copper is a Leetsdale, Pennsylvania-based supplier of copper products for electrical infrastructure, data center, power generation and industrial projects. It was founded in 1848.
Gregory Smith, CEO of International Wire Group, said "This acquisition represents our steadfast commitment to broadening our presence in the electrical infrastructure ecosystem. Together, IWG and Hussey Copper will play a vital role in supporting emerging grid capacity expansion, AI infrastructure/data center needs, as well as transformer, electric vehicles and renewables.”
The deal is expected to close in the third quarter and is subject to customary closing conditions and approvals.
Financial terms were not disclosed.
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