United Copper Industries (UCI), Denton, Texas, a manufacturer of building wire, was acquired on Sept. 29 by New York-based KPS Capital Partners, LP, a U.S.-based private equity fund, from the Mexican firm Grupo IUSA, which reportedly wanted to exit the wire and cable business. UCI will continue to operate independently under the same name and present leadership team.

In a press statement announcing the acquisition, Andy Blanchard, CEO of UCI, said all current UCI sales programs would remain intact and honored, and that the purchase would allow the company to grow the business. “UCI is thrilled to become an independent, U.S.-based company owned by KPS, which recognizes the true value of our business,” he said. “UCI will have access to capital and resources to profitably grow our business. With increased capabilities, UCI will move more quickly to develop our product line and enhance customer service.”

UCI was founded in 1999, manufactures wire and cable at its plant in north Texas and sells through U.S. electrical distributors. An article on the acquisition in the Denton Record-Chronicle said United Copper has 171 employees at its Denton plant and that the facility gets 40 percent of its production from renewable energy.

KPS Capital Partners manages KPS Special Situation Funds, a U.S. family of private equity funds with over $2.9 billion of assets focused on constructive investing in manufacturing businesses around the world. David Shapiro, a KPS managing partner, said in the press release, “Our investment in United Copper is just the first step in the creation of a larger enterprise. We intend to grow UCI both organically and through acquisition.”