International Wire Group Acquires The Forissier Group
10 January 2000
International Wire Group Acquires The Forissier Group, Holding Company for French Wire Manufacturers
ST. LOUIS, Mo.--Jan. 10, 2000--International Wire Group, Inc. (IWG), a wire and wire harness manufacturer formed by Hicks, Muse, Tate & Furst Incorporated, a leading global investment firm, and by Mills & Partners, Inc., Hicks Muse's management affiliate for commercial and industrial acquisitions, today announced that IWG has acquired the Forissier Group, a holding company for three French wire manufacturers.The Forissier companies are TJ Forissier SA and Fressynet SA, both of Saint-Chamond, which manufacture specialty braids, rope and cable products; and Charbonnet SA, of Beynost, a manufacturer of insulated wire products. Financial terms of the transaction were not disclosed.
The acquisition of the Forissier Group is IWG's second in Europe. In 1998, the Company acquired Italtrecce S.r.l., an Italian manufacturer of high-end specialty copper braids and rope products.
James N. Mills, Chairman of IWG and of Mills & Partners, said: "International Wire's acquisition of the Forissier Group will serve as a major growth catalyst for our company's European presence, established through the acquisition of Italtrecce two years ago. With a significant manufacturing base in both Italy and France, we are exceptionally well-positioned not only to better serve our existing European client base, but to attract new customers on a global basis."
Mills & Partners, Inc., founded in 1985 by Mr. Mills, has participated in the acquisition and subsequent operation of several commercial and industrial companies controlled by Hicks Muse. Mills & Partners currently manages various Hicks Muse portfolio companies with total revenues of approximately $2 billion.
International Wire, headquartered in St. Louis, is a leader in the design, manufacture and marketing of non-insulated bare and tin-plated copper wire, insulated wire and wire harnesses. The Company's products are utilized by a wide variety of customers primarily in the appliance, computer and data communications, automotive and industrial equipment industries.
