US private equity firm Olympus Partners has agreed to acquire a majority ownership stake in International Wire Group Holdings from Atlas Holdings for a purchase price “slightly in excess of” $900 million.
Atlas, which acquired IWG in April 201, will continue as an investor in the company.
Following the close of the transaction, which is expected to happen in the second quarter of 2023, longtime industry specialist Gregory J Smith will continue as president and chief executive officer of IWG.
Headquartered in Camden, New York, IWG is the largest non-vertically integrated copper and copper-alloy wire products manufacturer in the United States, according to a press statement.
