Thomas & Betts Corp. has acquired Birmingham, England-based Cable Management Group Ltd., a privately held manufacturer of cable protection products, for £70 million ($111.4 million).
CMG manufactures a broad range of flexible conduit and fittings used to protect critical power and data systems from fire, dust, moisture, vibration and corrosion. Marketed worldwide under the Adaptaflex, Kopex and Harnessflex brand names, key vertical markets for CMG products include rail, machine building, petrochemical, oil and gas, mining, heavy vehicles, automation and construction.
CMG is a growing and profitable business with market-leading brands, a solid international presence and an excellent financial profile, said Dominic Pileggi, chairman and CEO of Memphis, Tenn.-based Thomas & Betts.
Its diverse portfolio of cable protection systems complement T&B's existing product offering as well as the portfolio of cable protection systems added when we acquired Swiss-based PMA [AG] earlier this year. Both the CMG and PMA acquisitions support our strategic goals of broadening our presence outside North America and strengthening our leadership in industrial electrical components.
PMA makes technologically advanced cable protection systems.
Thomas & Betts is a global player in the design, manufacture and marketing of components used to manage the connection, distribution, transmission and reliability of electrical power in industrial, construction and utility applications.