Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Southwire Company, LLC (Southwire), one of North America’s largest wire and cable producers and an emerging influence in the industrial electrical space, on its acquisition of Novinium, Inc. (Novinium), a cable rejuvenation solutions provider focused on electric utilities. The transaction was led by Drew Spitzer, Matt White and Thomas Saunders of the Harris Williams Energy, Power & Infrastructure (EPI) Group.
“The wire and cable products and services industry is becoming increasingly attractive to investors, particularly as newer and more efficient technologies – such as what Novinium offers – are created,” said Drew Spitzer, a managing director at Harris Williams.
“With its nationwide footprint, longstanding customer relationships, and commitment to innovation and sustainability, Southwire has continuously proven it is a leading provider of wire and cable products. This acquisition allows Southwire to establish a platform for critical, outsourced field services and create additional touchpoints with its customers,” added Matt White, a managing director at Harris Williams.
A leader in technology and innovation, Southwire is one of North America’s largest wire and cable producers and an emerging influence in the industrial electrical space. Southwire and its subsidiaries manufacture building wire and cable, utility products, metal-clad cable, portable and electronic cord products, OEM wire products, and engineered products. In addition, Southwire supplies assembled products, contractor equipment and hand tools.
Novinium is the only full-service underground power expert that partners with utility companies to keep their networks operating at peak performance, using the most capitally efficient and environmentally friendly methods available. Novinium continues to advance its cable rejuvenation technology, methods and delivery through its signature CableCure service.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc.