Kinderhook Acquires Kingwire and Combines it with Cameron Wire & Cable
November 3rd, 2021
New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of KWI LLC and affiliates (“Kingwire”) in partnership with management. Following the acquisition, Kinderhook combined portfolio companies Kingwire and Cameron Wire & Cable into a consolidated wire and cable distribution platform (the “Company”). Terms of the transaction were not disclosed.
Kingwire is a North Chicago, Illinois based value-added distributor of wire, cable, and related accessories primarily for the U.S. residential and commercial building wire markets. Kingwire’s line card is focused on aluminum wire & cable products, all of which are company branded. In addition to its North Chicago headquarters and distribution center, Kingwire serves its customers out of a national network of strategically located distribution centers throughout the U.S.
The combination of Cameron Wire & Cable and Kingwire creates the leading aluminum wire and cable distribution platform focused on serving the electrical distribution and renewable energy markets. The Company will leverage the combined facility footprint and sales network of its businesses to expand its products and services for customers. Meaningful opportunities for the Company exist through combining Cameron Wire & Cable and Kingwire operations and procurement processes. The two management teams will be joined together and led by Company CEO, Andy Kessel, who was formerly President at Kingwire.
Andy Kessel, CEO of the Company, said, “Kinderhook is an ideal partner to help us accelerate our growth plan and increase our market share. I am also excited to collaborate with the Company’s distinguished Board of Directors. Combining forces with Cameron Wire & Cable will only improve our industry-leading services provided to our customers.”
Paul Cifelli, Managing Director at Kinderhook, stated, “Andy Kessel and the Kingwire team have done a phenomenal job at growing the business and creating a highly defensible position in attractive markets. We look forward to the opportunities that will be unlocked through this combination with Cameron Wire & Cable.”
Nate Druckenmiller, Vice President at Kinderhook, added, “This is a highly strategic combination that will create meaningful synergies across procurement, value-added services, and expansion of the Company’s distribution reach. The combined scale will allow us to further enrich the Company’s product and services offering across several markets.”
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by a Maranon Capital debt syndicate that included Capital One, MUFG, and Alliance Partners.
About Kinderhook Industries
Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages $4.5 billion of committed capital. We have made in excess of 275 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.
For more information, please visit: www.kinderhook.com
About Cameron Wire & Cable
Headquartered in Little Rock, AR, Cameron Wire & Cable is a leading value-added distributor of commercial and industrial wire, cable, and related accessories. Cameron Wire & Cable offers customized, value-added services and has a comprehensive offering of wire & cable products sold to the renewable energy, building wire, industrial and utility end markets. In addition to its Little Rock headquarters, Cameron Wire & Cable serves its customers out of a strategic footprint of distribution centers spanning the continental U.S.
For more information please visit: www.cameronwire.com
Headquartered in North Chicago, IL, Kingwire has specialized in meeting the needs of electrical distribution for over 20 years. Kingwire provides a complete line of wire and cable products for residential and commercial markets. Kingwire has strategically placed inventory in several markets across the United States to best serve customers with value added services and same-day shipments.
For more information please visit: www.kingwire.com