Suprajit Engineering has successfully completed acquisition of Wescon Controls, Wichita, USA, through its wholly owned subsidiary Suprajit USA Inc, by purchasing 100% outstanding equity share capital from Shell Topco LP managed by a Private Equity Fund - Nova Capital, UK.This transaction was funded by Suprajit’s cash balances and debt in an approximate ratio of 50:50. The Enterprise Value of Wescon was estimated at $44.4 million.
Wescon Controls is a market leading manufacturer of control cables in the non-automotive Outdoor Power Equipment (OPE) space. It has marquee customers like MTD, Husqvarna, John Deere, TORO, Honda, etc., and is the largest manufacturer of OPE cables in North America.
With expected sales of $40 million and EBIDTA margin in the range of 16-18%, Wescon has its plant in Wichita, Kansas, USA and a Maquiladora facility in Juarez, Mexico. Wescon has been manufacturing cables since 1946. It has a strong management and engineering team with a leading market position in the North American non-automotive cable space.
