Ad
Ad
Ad
© vladek dreamstime.com Components | July 24, 2017

Tele-Fonika Kable buys JDR Cable Systems

UK-based cable manufacturer JDR Cable Systems (Holdings) Ltd. is to be acquired by Tele-Fonika Kable (TFKable). The transaction is subject to regulatory approval.
Monika Cupiał-Zgryzek, Chief Executive Officer of TFKable, commented: “TFKable is a strategic investor with long-term vision for JDR, sufficient resources to support its continued growth, and vast knowledge of the market. We highly appreciate JDR’s experienced people, recognised brand name, technological competence and a successful track record with regards to numerous innovative products. TFKable is planning to maintain JDR’s operations in current locations, providing new opportunities for the local employees and business partners, and offering our customers innovative solutions.”

David Currie, JDR’s Chief Executive Officer, commented: “This acquisition creates a strong platform for JDR to enhance its position in offshore energy cables and umbilicals. It demonstrates the value JDR’s leadership has created through targeted investment in subsea technology, services and manufacturing facilities, and the talent and expertise of our staff. This news marks the next exciting chapter of our business.”

Jonathan Guest, Principal at Vision Capital, JDR’s selling majority owner, commented: “Our investment in manufacturing facilities has transformed JDR, tripling revenues and growing the business to become a leading supplier to the oil, gas and renewables industries. We are delighted to have secured a long-term strategic owner for the business in the next stage of its development.”

The transaction, which is subject to receipt of required regulatory approval and consents and other customary closing conditions, is expected to close in Q3 2017.
-----

EDITOR'S NOTE_ Highlight in first quote is an editorial choice.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
August 22 2017 10:36 AM V8.6.0-1