Carson Cable Manufacturer Acquired by British Private-Equity FirmMonday, October 1, 2012
A London private equity firm said on Monday it has acquired Coast Wire & Plastic Tech Inc., a Carson company that manufactures custom cables and wires.
Nova Capital Management Ltd. bought Coast Wire along with four other companies owned by industrial group Latshaw Enterprises Inc. of Wichita, Kan. The other companies are in Kansas, Colorado and Northern California.
Coast Wire designs and manufactures insulated electronic cables and wires used in the medical-devices, aerospace, and solar and wind energy industries.
In a press release, Tom Leader, a Nova investment partner who will join Coast’s board of directors, described the newly acquired firms as well-managed and ready for expansion.
“We feel we can accelerate their growth through the deep operational and international experience which we can bring to bear,” Leader said.
Financial details of the deal were not disclosed.
Coast Wire officials declined to comment and Nova executives were not immediately available for comment.