CHEVY CHASE, Md. – Farragut Capital Partners, LLC (“Farragut”) is pleased to announce the closing of an investment in Atlas Wire Corp. (“Atlas” or “the Company”). Farragut invested subordinated debt and equity to support the acquisition of the Company by Spell Capital Partners (“Spell”). Atlas CEO Bruce Leska invested alongside Spell and Farragut in the transaction.
Javier Aguirre, Managing Partner of Farragut, said, “We’re pleased to partner with Bruce and Spell on this transaction. Atlas is a deeply entrenched player in the wire and cable space and has some of the most enduring customer relationships in the industry. With Bruce’s leadership and Spell’s support, we’re excited about the growth prospects that lie ahead.”
Atlas is a leading manufacturer of PVC, nylon, and cross-linked polyethylene insulated wire used in a variety of industries and applications. The Company was founded in 1950 and is based in Schiller Park, Ill., with a second manufacturing facility in Tucson, Ariz.
“We are thrilled to partner with Spell Capital and to combine our mutual expertise to deliver the highest quality products to our customers,” said Mr. Leska. “Spell’s experienced and knowledgeable team will act as an important complement to our existing management team and will help position us to execute on our growth plan.”
“Spell Capital is excited to be partnering with Bruce and Farragut Capital Partners,” added Bill Spell, CEO of Spell Capital. “Farragut Capital has been an excellent partner throughout the transaction and will be an important asset to the transaction as we move forward and take advantage of the upside potential at Atlas.”