IEWC Signs Purchase Agreement For Almo Wire & Cable
IEWC has entered into a definitive purchase agreement to acquire the assets of Almo Wire & Cable on May 31, 2013. Almo is one of the leading stocking suppliers of marine wire, industrial battery cable and military specialty products in the United States. This highly-focused product line expansion will enable IEWC to offer enhanced support of in-demand niche products and solutions to its growing customer base.
Almo’s focus on quality products has resulted in strong partnerships with several of the industry’s leading manufacturers including Prestolite Wire, General Cable, Kalas and Southwire. Coupled with a customer-centric approach to distribution, Almo is a natural fit within the IEWC family and a great enhancement to IEWC’s growing global presence and product offerings.
The Almo sales team will join IEWC under the leadership of Jim Manney, currently of Almo Wire & Cable, and will be based out of a new IEWC sales office located in the greater Philadelphia, PA area.
This investment in Almo enhances IEWC’s on-going global commitment to both the marine market and the military and defense markets. Paul Bryant, IEWC’s Chief Commercial Officer, commented, "Almo Wire & Cable’s unparalleled dedication to quality and customer service will be a true asset to both IEWC and our customers. Almo’s motto, "Distribution on a
Personal Level", demonstrates a mindset which mirrors IEWC’s approach to customer care, and we’re excited about the benefits that this acquisition will create for both our customers and supplier partners."