TPC Wire & Cable Corp. of Macedonia sold to Audax Group

TPC Wire & Cable Corp. of Macedonia has been sold from one out-of-town firm to another.

Private equity firm Pfingsten Partners LLC of Chicago sold the company to middle market investor Audax Group of Boston for an undisclosed price, according to a news release.

It doesn't seem like this sale will mean much change for local employees. Senior marketing manager Michelle Willmott said TPC has a long-term lease in its current space and it has room to grow there. There are about 165 employees at the company, about 130 of whom are local.

TPC makes high-performance wire, cable and connectors for a variety of industries, including steel, mining and food and beverage. In the release, TPC CEO Steve Michalski said Audux's "track record of helping teams execute aggressive add-on acquisition strategies" will support the company's growth plans.

The sale closed May 14, Willmott said.

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