Allied Capital Corp., Washington, D.C., has invested $26.4 million to support the management-led buyout of Tappan Wire & Cable Inc. from the founding owner and a company ESOP.
Founded in 1978, Tappan Wire & Cable is a manufacturer and distributor of low- and medium-voltage cables serving the communications, security, fire safety, computer networking and instrumentation markets.
“This deal represented an opportunity to invest in a niche player in a fragmented industry run by an experienced management team with solid growth potential,” said Paul Tanen, managing director of Allied Capital. “We look forward to working with management to realize that growth through select acquisitions and new product expansion.”