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.
For more Audax coverage, read up on the firm's recent purchases and see our video interview with Audax managing director Jay Jester.