Houston Wire & Cable Company has agreed to acquire two wire companies from Teleflex Inc. for a total of $50 million, according to the Houston Business Journal.
Houston will purchase Southwest Wire Rope LP and Southern Wire LLC.
Houston-based Southwest Wire Rope supplies material handling, lifting and mooring products. The company has two offices in Houston and two Louisiana.
Southern Wire, a 30-year-old company based in Olive Branch, Miss., supplies industrial wire rope. In addition to the Mississippi location, the company has offices in Henderson, Nev. and Kansas City, Mo.
Both companies were part of Teleflex Commercial, a division of Limerick, Pa.-based Teleflex Inc. which provides products and services to the marine and industrial markets.
Houston Wire & Cable expects to close on the deal by the end of the second quarter.
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