Audax Acquires TPC Wire & Cable and Plans Add-On Deals

The transaction comes as dealmakers predict a modest increase in manufacturing M&A

Audax Group is set to acquire TPC Wire & Cable Corp. from Chicago private equity firm Pfingsten Partners.

Headquartered in Macedonia, Ohio, TPC produces ruggedized wires and cable connectors used in a variety of industries, including mining, automotive, food & beverage, oil & gas and transportation. The transaction comes as more dealmakers predict an increase in manufacturing M&A.

Audax plans to make add-on acquisitions to TPC, according to a joint statement from TPC chief executive Steve Michalski and Audax co-CEO Geoffrey Rehnert.

BB&T Capital Markets advised TPC Wire & Cable. Kirkland & Ellis LLP and Paul Hastings LLP served as counsel to Audax and TPC, respectively.

Madison Capital, CIT Capital, NXT Capital and PNC Mezzanine provided financing for the transaction.

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