Omnicable Completes Acquisition of Houston Wire & Cable Company
June 16, 2021
Houston Wire & Cable Company and Omni Cable, LLC has announced that the acquisition of HWCC by OmniCable has been completed, following approval of the transaction by HWCC stockholders at a special meeting.
The transaction was announced on March 25, 2021. Under the terms of the merger agreement, HWCC stockholders will receive $5.30 in cash for each share of HWCC common stock they hold. As a result of the completion of the merger, HWCC common stock will be removed from listing on the Nasdaq Global Market, and Nasdaq will suspend trading in HWCC shares as of the close of business today.
The combined company results in a national wire and cable redistribution industry leader that will maximize OmniCable’s and HWCC’s highly complementary businesses, products and national footprint to better meet the needs of both companies’ customers. The combined company also will continue Vertex, HWCC’s fastener redistribution business. Following the close of the transaction, the company will retain both brands and its existing locations. “We are thrilled to welcome the HWCC team to OmniCable as it brings together two winning traditions to form one world-class company. We will maintain both brands because of the strong customer relationships each has built over the years,” said Greg Lampert, OmniCable President and CEO. “Offering both brands allows our customers a choice and to work with their preferred partner.”
