Coleman Cable considering sale of company
U.S.-based Coleman Cable, Inc., a manufacturer of electrical and electronic wire and cable products, is exploring a potential sale of the business.
A Reuters wire story, citing "people familiar with th matter," said that the company "is in early-stage discussions with potential buyers before sending out detailed financial information about the company in the next
several weeks." It noted that Champlain Cable has roughly $90 million in gross annual earnings, and that a sale could be valued at 8.5 times that, for an estimate of more than $750 million. The company's stock has soared this year, from under $10 a share to more than $25, with a market cap of $450 million on Oct. 31.
The story said that Investment bank Jefferies is advising Coleman on the sale process, "which is expected to draw interest mainly from larger cable and wire manufacturers. It noted that requests for comment to Coleman Cable and Jefferies did not get a response