TUSCALOOSA, Ala.—Woven wire and screening manufacturer Phifer Inc. has signed an agreement to acquire the U.S. assets of New York Wire, a Hanover, Pa.-based supplier of woven mesh to consumer, automotive and industrial filtration markets.
The value of the cash deal was not disclosed, and is subject to customary closing conditions. The transaction is expected to be completed by Dec. 18, 2015.
The New York Wire operations will constitute a stand-alone business unit as a wholly-owned subsidiary of Phifer.
“We are excited about the addition of New York Wire, a strong brand with dedicated employees positioned in similar markets as Phifer,” Phifer President Brad Cork said. “We are fully committed to supporting and accelerating our growth and innovation on an international scale both organically and through acquisitions. We believe New York Wire is a perfect fit to meet Phifer’s objectives.”
Phifer Inc., founded in 1952 by J. Reese Phifer, is a family-owned, diversified manufacturer of woven wire, fiberglass and polyester mesh for insect and solar screening, sling and cushion furniture fabrics, drawn metal wire and engineered products used in a variety of industrial applications.
New York Wire was formed in 1892 when Francis J. Root merged three small wire weaving companies in York, Pa. In the early 1900’s, the company engineered the first looms capable of weaving metal wire. Today, New York Wire’s wire drawing and metal mesh capabilities include low carbon and stainless steel, bronze and aluminum.