Loos & Co., LLC (Loos) was acquired by Canada’s Central Wire Industries (CWI). That news was reported in a July 2018 announcement by Carter Morse & Mathias (CMM), which served as a financial adviser, but that press release did not make a splash on the news wires.
To date, WJI has still not been provided any official comment. Thus, the only news to officially report is the statements from the CMM press release. In it, CWI President Paul From said, “The addition of Loos to the Central Wire Group of Companies continues our strategy of broadening and diversifying product offerings and markets served around CWI’s industry-leading stainless and nickel alloy wire business.”
The press release also included comments from one of the owners of the second-generation family-owned company. “We were looking to find a synergistic buyer that would continue the company’s commitment to its employees, customers, and business partners, to accelerate the development and production of the highest quality products and to uphold the company’s legacy in the industry and our communities. We found the perfect buyer with Central Wire,” said Joan Loos.
This news may already be known, especially as the CWI website has Loos listed among its acquisitions. Prior ones included Hempel Wire Limited (2015), Strand Core (2014), Charter Specialty Steel - Fond du Lac, Wisconsin facility (2010), Techalloy, Inc. (2005), Greening Donald (2003), Nucor - Lancaster, South Carolina facility (1998) and National Filtration (1989).
Per the release, Loos has manufacturing operations in Pomfret, Connecticut and Naples, Florida, and is the only vertically integrated manufacturer of aircraft control cable, cable assemblies and hardware accessories - drawing wire, stranding into cable, manufacturing end fittings, and producing cable assemblies in North America.