FOR IMMEDIATE RELEASE
Richmond, VA – (May 30, 2011) Transact Capital is pleased to announce the acquisition of Custom Wiring, Inc., by CW Assemblies, LLC. Transact Capital served as the financial advisor to CW Assemblies, LLC.
Custom Wiring was founded in 1980 by Larry R. Diggins, Sr., and was followed into management by his son Ray Diggins Cain who has managed the business since 2002. The company provides electrical wire harness assemblies and related products for appliance and industrial equipment companies primarily located in Kentucky, Ohio and Indiana.
Transact Capital is an independent investment banking firm focused on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
CW Assemblies founder, Robert S. Coats, commented, “This acquisition of Custom Wiring provides an opportunity to add additional products to the existing customers, plus grow the customer base. This will help enhance Custom Wiring’s excellent reputation for their quality. With the purchase of a family business with family values, we won’t have to change that part of the business although we do plan to enhance the capability and capacity of the business in order to achieve our goals. We see the future of the company being an extension of the vision that Mr. Diggins had set, to provide high quality products and superior customer support. We are confident that we can add and build upon this business model”.
Transact Capital Vice President Fred Doster commented, “When Rob Coats laid out his acquisition criteria, Custom Wiring came immediately to mind. I had known the Diggins family for a number of years, and it seemed that this might be the right time.”
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.