Sequel Wire and Cable reports that it has received an investment from Cuprum Holdings, LLC, and is launching a new company called Sequel Wire and Cable Holdings, LLC (SWCH).
A press release from Sequel Wire, based in Argos, Indiana, said that the transaction will provide enhanced access to financing, which will speed up planned expansions and create additional capacity to broaden the product offerings. Sequel’s current operating structure remains intact and is now renamed Sequel OEM Group, LLC, under SWCH. Rich Carr will serve as president and CEO of the Sequel OEM Group. Mike Frigo and Denise Feece will remain in their current roles.
Jim Coleman is the president and CEO of SWCH, and Gary Yetman is the executive chairman. Each man has more than 35 years of industry experience, including leadership positions at Coleman Cable, which acquired Copperfield, LLC, in 2007 from Carr, who was its president. The new entity, called Sequel Low Voltage Group, LLC, will also be under SWCH.
“For employees and the Argos area, this new partnership is great news,” the release said. It noted that more skilled employees will eventually be needed to meet the expanded manufacturing capacity as new product lines are introduced. The Argos area continues to be a great place for the expansion of facilities and will remain as the Sequel OEM Group headquarters.
