Electrical specialty distributor and fabricator EIS Inc., Atlanta, a subsidiary of Genuine Parts Co., announced that it has acquired the stock of Cobra Wire & Cable Inc. from Merit Capital Partners and Fulton Capital. Cobra will become a stand-alone division of EIS, giving it a solid position in the specialty wire market concentrating on flexible power cable and a variety of other specialty cable types for clients ranging from marine operators to telecom companies and data centers.
Cobra will continue to operate from its headquarters and distribution facility in Hatboro, Pa., and its additional distribution locations in Plano, Texas, and Seattle, Wash. Operating as Cobra Wire & Cable, a Division of EIS Inc., the group will continue to serve the telecom, battery, uninterruptible power supply (UPS), alternative energy and marine markets. Cobra has insulated cable and hardware products such as lugs and connectors manufactured for it under exclusive contracts, and goes to market through a network of reps and distributors.
Bob Thomas, president and CEO of EIS, said, “This acquisition is consistent with our strategy to grow our current specialty wire and cable business into targeted adjacent markets. Cobra will operate as a separate division of EIS and continue operations with all existing customers and suppliers from their current facilities. We are pleased to welcome the Cobra team to the EIS and the Genuine Parts Co. family.”
Peter Sheehan, president of Cobra Wire and Cable, will lead EIS's new wire and cable division. “Cobra is very excited to join EIS and Genuine Parts Co.,” he said. “We look forward to playing an active role in their continued expansion into the specialty wire and cable business.”
In wire and cable, EIS has primarily been a distributor of magnet wire used in motors, transformers and coils, lead wire of various kinds and cordsets. EIS acquired Fay Wire in 2010.
EIS is a distributor of process materials, production supplies and value-added fabricated parts, most of which go into the electrical original equipment manufacturing (OEM), motor and apparatus repair and various assembly markets. Key products include magnet wire, electrical insulation, adhesives and sealants, hand tools and thermal management products. It does assembly and fabrication mostly through its Fabrico division.
The company was acquired in 1998 by Genuine Parts Co. and operates as a wholly owned subsidiary. Genuine Parts also has NAPA Auto Parts, Motion Industries and office supply distributor S.P. Richards.