WireMasters Acquires Manufacturing Company Wyre Tek
FOR IMMEDIATE RELEASE
March 20th, 2015
WireMasters Acquires Wyre Tek
Cranston, RI USA-
WireMasters, Inc. is pleased to announce the acquisition of Wyre Tek, LLC. The addition of the Rhode Island manufacturer to the WireMasters Family forms a strong team that will provide advanced products and value added services throughout the aerospace and defense industries.
Closing of the transaction took place today and is a significant advancement for Team WireMasters. WireMasters currently holds Qualified Producer List (QPL) status for unshielded and unjacketed (U00) cables within the military cable specification M27500. By acquiring Wyre Tek and their extensive QPL positions, WireMasters can now manufacture more cables within M27500. Via Wyre Tek, WireMasters can produce cables with tape wrapped jackets and braided shields, as well as non-QPL certified cables with similar jackets and shielding, such as the M55021 specification. In addition to these manufacturing capabilities, WireMasters will establish an inventory presence at the Wyre Tek facility to better serve our customers located in the North East region.
David C. Hill, WireMasters President and CEO, said: “We are excited about the acquisition of Wyre Tek and what these new manufacturing capabilities mean for the WireMasters brand. As a company, we are always looking for ways to diversify and expand our products and services and this transaction seemed like the perfect opportunity. Wyre Tek will strengthen and broaden our offerings and enhance our ability to deliver the finest products and extensive services throughout our industry. With our focus and dedication remaining on our customers, you can expect nothing but great things from the WireMasters family of companies.”
Wyre Tek was founded by the late Kerry Patterson and served as a highly respected cable manufacturer for over twenty years. It is with great honor that WireMasters will carry forward the legacy of Mr. Patterson through the Wyre Tek brand. WireMasters will retain all current Wyre Tek employees, including Lisa Patterson, Kerry’s daughter. We gladly welcome them to the WireMasters Family.
Integration of the two companies began immediately following today’s closing transaction. All calls to Wyre Tek will be routed to WireMasters headquarters in Columbia, TN. You can also call our toll free number at 1.800.635.5342 for any additional questions regarding this transition or quoting opportunities. Wyre Tek production activities will resume on Monday, April 6th. The WireMasters team is excited about this transition and looks forward to better serving all of our customers.
Founded in 1988, WireMasters Inc. is a leading international distributor of high performance and high temperature military specification wire, cable and associated accessories. The company warehouses millions of feet of wire and cable inventory with locations in Arizona, Texas and its headquarters in Columbia, Tenn.
For more information visit www.wiremasters.net