Industrial Electric Wire & Cable Signs Purchase Agreement for Control Master Products
June 30, 2008
Industrial Electric Wire and Cable (IEWC), New Berlin, Wisconsin has concluded an Asset Purchase Agreement with Control Master Products (CMP) of Concord, California. CMP is a UL and CSA certified stocking distributor of wire, cable and wire management products; providing value added services including the striping, dyeing and cutting of wire and cable.
Founded in 1968 by Walter C. Permann, Control Master Products services and supports the needs of the OEM and Sub-assemblers located principally in Northern California and the Pacific Northwest Region of the USA. The transaction closed on June 30, 2008. Chris Reich, U.S. West Regional Sales Manager, will be responsible for championing Industrial Electric's commercial thrusts in Northern California and in the Pacific Northwest Region. David Nestingen, President of IEWC, recently stated that, "Establishing a local DC facility in Northern California has been a part of the company's longer range vision for growth within the United States. Securing the assets of an existing distributor will help to accelerate Industrial Electric's growth initiatives on the west coast. This acquisition demonstrates Industrial Electric's strong commitment to expand its service offering nationally. We believe our customers and our suppliers will find favor in the 'solution focus' of our combined companies."
Mike O'Donnell, Vice president of IEWC's North American Sales further stated, "This acquisition brings together two organizations with similar service offerings and market strategies and it deepens IEWC's commitment to Northern California and the Pacific Northwest with a local stocking presence."
For further information please contact David Nestingen, President, Industrial Electric at (262) 782-2323 or via email at email@example.com.