Insteel Industries Subsidiary Acquires Engineered Wire Products in $70M Deal

Dow Jones

2024-10-22

By Denny Jacob

Insteel Industries' subsidiary acquired Engineered Wire Products for $70 million with cash on hand.

Insteel Wire Products' acquisition will expand the company's geographic footprint and make it more competitive in the Midwest, said Chief Executive H.O. Woltz III. It will also enhance its customer service capabilities and drive down operating costs through operational synergies, he added.

Engineered Wire Products, a welded wire reinforcements products manufacturer, recorded sales of $93.3 million for the twelve-month period ended Sept. 30, according to Insteel.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 21, 2024 16:48 ET (20:48 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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