Pictured: Accurate Wire, Inc. acquired by Luvata.
Expanding its wire product offering
(3 March 2016) Luvata announces it has purchased the electronics wire manufacturer Accurate Wire, Inc. Accurate Wire is a privately held company located in Branford, Connecticut USA and manufacturer of custom shaped wires commonly used in electronic connector applications. This acquisition reinforces Luvata's commitment to expanding its speciality wire product offering to customers worldwide.
Founded in 1988, the Branford facility currently employs 25 people and in 2015 generated $12M in sales revenue. The purchase of Accurate Wire will see Luvata assuming the long term lease on the 60,000 square foot facility in Branford along with ownership of the rolling, wire drawing, annealing and in-line eddy current and laser inspection equipment.
"As the world's leading manufacturer of many highly specialized, niche products including battery wire, photovoltaic ribbon, welding wire and superconducting wire and cables," indicates Jussi Helavirta, President of Luvata Special Products division, "combined with the manufacturing know-how and capacity of our long-term partner Accurate Wire, Luvata is well prepared in meeting the expanding needs of our combined wire customers worldwide."
"This is good news for Accurate Wire, Luvata, and our customers," says Douglas Milheim, co-founder and President of Accurate Wire. "We have had a good, long-standing relationship with Luvata for ten years. Now as part of the Luvata Group, a more vertically integrated business with a much larger global footprint, we will thrive." Accurate Wire specializes in the supply of square, flat, round and custom shaped wire made out of copper, copper alloys, steel and aluminum for the Electronics, Automotive, Medical and Aerospace industries.
For more information, please contact:
Luvata Special Products
Phone: +1 740 368 7750
Luvata is a world leader in metal solutions manufacturing and related engineering services. Luvata's solutions are used in industries such as renewable energy, power generation, automotive, medicine, air-conditioning, industrial refrigeration, and consumer products. The company's continued success is attributed to its longevity, technological excellence and strategy of building partnerships beyond metals. Employing over 6,400 staff in 18 countries, Luvata works in partnership with customers such as Siemens, Toyota, CERN and Carrier. Luvata is owned by Nordic Capital funds V and VI.
About Accurate Wire, Inc.
Accurate Wire was formed in 1988 by Douglas J. Milheim and Matthew B. Smith, with a combined total of 60 years of experience in manufacturing specialty wire. Originally founded to manufacture square and round wire for electronic connector applications, Accurate Wire expanded its equipment base to allow for the production of flat and special shaped wire.