M&A · Industrials · Wholesale-Electrical Apparatus & Equipment, Wiring Supplies
OmniCable to acquire Houston Wire & Cable Co
Announced Mar 25, 2021 · Closed Jun 15, 2021
Deal value$91MEV $113M
Premium39.0%To unaffected price
EV / Adj. EBITDA—0.4x EV / Revenue
ConsiderationAll cash$5.30 per share
Transaction
- Acquirer
- OmniCable
- Target
- Houston Wire & Cable Co (HWCC)
- Buyer type
- Strategic
- Offer price per share
- $5.30
- Enterprise value
- $113M
- Status
- Closed Jun 15, 2021
Deal protections
- Break fee (target pays)
- $4.0M · 4.4%
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- William Blair, Johnson Rice
Sector context · Industrials
- Comparable deals
- 18 in the prior 24 months
- Premium
- 39.0% vs. 23.5% sector median
- EV / Adj. EBITDA
- Sector median 10.0x
- Break fee
- 4.4% vs. 2.4% sector median
Timeline
- AnnouncedMar 25, 2021
- Proxy filedApr 21, 2021
- Definitive proxyMay 12, 2021
- Shareholder voteJun 15, 2021
- ClosedJun 15, 2021
Valuation · fairness opinions
Discounted cash flow$2.07$3.39
Discounted cash flow$3.36$5.13
Discounted cash flow$4.72$6.98
Offer $5.30
Implied value per Houston Wire & Cable Co share by analysis, from Johnson Rice · DCF discount rate 7.5%–10.3%.