Monday, March 2, 2015

News: Rotherham's Hempel Wire acquired

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Rotherham-based Hempel Wire, one of the world's leading round and shaped wire manufacturers, has been acquired by Canadian firm, Central Wire Industries.

Founded in Rotherham in 1983 and with the support of the Hempel family, H.A.Watson quickly established itself as a quality producer of stainless steel round wires. With purpose built premises off Greasborough Road, the firm specialises in very high quality stainless steel and nickel alloy wires used in demanding applications by many major companies involved in oil & gas, petrochemical, chemical, pulp & paper and water filtration.

Central Wire Industries (CWI), founded in 1955 and headquartered in Ontario, Canada, manufactures and distributes stainless steel, nickel alloy, and copper and brass wire products throughout the world. It has six manufacturing facilities in North America and around 360 employees.

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The Rotherham business was purchased for an undisclosed sum from Hempel Special Metals Holding GmbH, an international distributor of speciality metals, part of the F.W. Hempel & Co Group of companies, headquartered in Oberhausen, Germany.

The acquisition comes after Hempel Wire's recent purchase of certain trademarks, trade names, and intellectual property from historic Sheffield firm, Fox Wire. Hempel Wire had reported sales of £9m last year and has approximately 45 employees.

As a result of the transaction, Hempel Wire plans to change its name to Central Wire Industries UK with managing director James Roper set to continue in the role.

Paul From, President and CEO of Central Wire Industries said: "This acquisition significantly broadens the product offerings of CWI, expands our reach in existing markets, and enables new market opportunities.

"We are truly pleased to make this announcement and are delighted to welcome James Roper and the Hempel Wire team and business into the CWI Group."

André Hempel, managing director of Hempel Special Metals, added: "The sale of Hempel Wire to Central Wire Industries allows us to focus on and further develop our core specialism of international distribution of corrosion and heat resistant high performance materials and components.

"We wish the team at Hempel Wire all the very best for the future and we are sure that the benefits of past cooperation will be transferred to the new organization."

Alex Kilgour, Lara Vos Smith, and Gary Smith of Dentons acted as Canadian and UK legal advisers to Central Wire Industries, and KPMG Corporate Finance Inc. provided deal advisory services.

Hempel Special Metals was advised by Jim Whittaker and Alan Metcalfe of Baker Tilly Corporate Finance and David Strachan, Karen Crutchley, and Lucy Holroyd of Schofield Sweeney.

Hempel Wire website

Images: Hempel Wire

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