Thomas & Betts Acquires Cable Management Group

Source: www.gulfoilandgas.com 10/4/2010, Location: North America

Thomas & Betts Corporation announced that it has acquired Cable Management Group, Ltd. (CMG), a privately held, leading global manufacturer of cable protection systems specified in industrial and infrastructure / construction applications, for £70 million (approximately $110 million) from available cash reserves. Based in Birmingham, U.K., CMG reported sales of approximately £28 million (approximately $44 million) for the fiscal year ended July 31, 2010.

CMG manufactures a broad range of metallic and non-metallic flexible conduit and fitting systems used to protect critical power and data systems from fire, dust, moisture, vibration and corrosion. Marketed worldwide under the Adaptaflex(R), Kopex(R) and Harnessflex(R) brand names, key vertical markets for CMG products include rail, machine building, petrochemical, oil and gas, mining, heavy vehicle, automation and construction / infrastructure.

"CMG is a growing and profitable business with market-leading brands, a solid international presence and an excellent financial profile," said Dominic J. Pileggi, chairman and chief executive officer of Thomas & Betts. "CMG's diverse portfolio of cable protection systems complement T&B's existing product offering as well the portfolio of cable protection systems added when we acquired Swiss-based PMA AG earlier this year. Both the CMG and PMA acquisitions support our strategic goals of broadening our presence outside North America and strengthening our leadership in industrial electrical components."


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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