Atlas Holdings, a Greenwich-based diversified group focused on manufacturing and distribution businesses, has acquired International Wire Group Holdings Inc. (IWG), a designer and manufacturer of copper-based wire products.
The financial terms of the transaction were not disclosed.
Gregory J. Smith, a senior vice president at Marmon Engineered Wire and Cable, a Marmon/Berkshire Hathaway company, was named president and CEO of IWG, replacing Edwin Flynn, who is stepping down after eight years at the company’s helm.
Headquartered in Camden, New York, IWG operates 17 manufacturing facilities and one distribution site across North America and Europe and has 1,600 employees. The company is primarily focused in the industrial, energy, electronics and data communications, automotive and specialty vehicles, aerospace and defense, medical products and appliances industries.
“IWG is a perfect fit as the newest Atlas company,” said Timothy J. Fazio, Atlas Holdings’ co-founder and managing partner. “Our team has spent decades growing and strengthening businesses in the engineered products sector and today we own and operate many global manufacturing and distribution companies. With a highly-skilled team around the world, loyal customers and a product mix vital to the global economy, IWG’s future is very bright.”