Wirenet Image Band
wirenet.org mobile image band

Wire Journal News

Champlain Cable makes acquisition

4/5/2021: Champlain Cable announces that it has acquired Umbilicals International (UI), which designs and manufactures complex cable and umbilical products for dynamic and harsh environments at its two U.S. plants in Texas.

A press release said that UI, a business of Scotland’s Seanamic Group, will continue to operate out of their facilities in Stafford, its headquarters, and Channelview, Texas. UI will continue with its present name, managed as a standalone business under General Manager Colin Zak.

The deal expands the scope of Champlain Cable, which is based in Vermont, with operations in El Paso, Texas, and Benton Harbor, Michigan. “The addition of Umbilicals International to the Champlain Cable Group will strengthen our commitment to custom designed cables for harsh and demanding environments,” Champlain Cable President Bill Reichert said. “The entire Champlain Cable Group will now have extensive cable design and manufacturing capability for a broad coverage of markets and applications.”

Reichert commented that all the proper and necessary due diligence was conducted, even though, given the challenging times, it was done under very different circumstances. “We did visit UI’s two plants (Stafford and Channelview) in Texas. We had our El Paso Operations manager handle that part of the process.”

Reichert cited Marty Kenner, Commission Brokers, for alerting him to this opportunity. “Marty knew we were looking for certain acquisitions, and he and I talked about UI.” That led to good discussions with The Seanamic Group, and the process was largely seamless and expedited, he said. “It worked out quite well due to a great team approach.”

Read 210 times Last modified on April 7, 2021