U.S.-based JENNMAR has acquired a majority stake in Australian Steel and Wire, a takeover its officials said will grow its wire mesh expertise and expand its offerings in North America, Europe and the Asia-Pacific region.
JENNMAR, a portfolio company of FalconPoint Partners, will integrate ASW into its JENNMAR Australia group of companies.
Terms of the transaction were not disclosed.
ASW’s extensive product range includes galvanized and stainless steel welded mesh, cut wire, wire coils, 358 security mesh, temporary fencing infill panels, barb wire, fencing wire, tie wire, hinge joint farm fencing, and dog mesh supporting the mining, industrial, building, and rural farming industries.
“[ASW] has built a solid team and has many years of mesh manufacturing expertise to add to the JENNMAR group of companies. We look forward to expanding ASW’s capabilities and utilizing its low-cost operations in Malaysia to serve our growing international hard rock and soft rock base,” said JENNMAR CEO Tony Calandra.
Source: www.jennmar.com