WireMasters Acquires European Company, DANNEWITZ GmbH & Co (DKG)
WireMasters, Inc. announced today the acquisition of the Germany-based company, DANNEWITZ GmbH & Co (DKG). This acquisition establishes WireMasters' first warehouse location in Europe.
- (1888PressRelease) June 25, 2017 - The definitive agreement was signed today. "We are excited to welcome DKG to the WireMasters family," said David C. Hill, President, and CEO of WireMasters, Inc. "Our European customers have long expressed a desire for us to have a European location. This acquisition allows us, in a significant way, to increase our level of service in that region due to the central European location, as well as the opportunity to leverage DKG’s brand and existing relationships."
This transaction brings great value to the WireMasters brand. The company views the acquisition as an opportunity to enhance their product and stocking options to European based customers. As a customer service driven company, WireMasters continually searches for ways to expand the quality and depth of their services. Through the DKG brand, WireMasters will be able to successfully increase stocking options and cut lead times significantly to Europe and surrounding areas. The combined companies want this to be an easy and smooth transition which provides positive outcomes for all parties involved.
DKG is known for providing wire, cable, heat shrink tubing, braid, molded parts, protective sleeving, and other cabling components. They hold strong relationships with companies such as TE Connectivity, PIC Wire and Cable, and Federal Mogul (formerly Bentley-Harris), all which play a significant role in the European market. DKG currently serves a variety of industries including aerospace, defense, aeronautics, space applications, motorsport, automotive, rail transit, ship building, IT, trade, alternative energy technology as well as medical and surgical instruments.
"DKG has held a strong relationship with the WireMasters Team for several years now.," said Peter Ullinger, former and present Managing Director of DANNEWITZ GmbH & Co. "As a company, we have been looking for ways to significantly enhance our service levels for our customers. We have known WireMasters for many years, and have gotten to know them at an even deeper level throughout the process of this transaction. David and I have grown to know each other very well, and appreciate the fact we both view our companies and customers as our families. It was important for us to maintain the solid family values upon which DKG built their organization. We are very pleased that WireMasters values this as well, and have built their business on them as well. Because of our shared beliefs and approaches, we think this move is the right fit for our brand. I know WireMasters will uphold the highest standards when delivering products and services."
Through their combined experience and wiring knowledge, the WireMasters Europe location will provide a higher level of service and products that bring faster results to customers, particularly in the European market. With the integration of DKG, WireMasters plans to enhance and expand the current value-added services department. WireMasters will have capabilities to serve the medical markets through the DKG brand.
Integration of the two companies will officially begin June 30th, 2017. WireMasters and the DKG team recognize that there may be questions regarding this transition and we want to address those immediately. You can call our toll-free number at 1.800.635.5342 for any questions regarding the acquisition. We look forward to continuing to service all WireMasters and DKG customers.
Please stay tuned to our website for additional updates: http://www.wiremasters.net/about-us/blog
About WireMasters, Inc. - Founded in 1988, WireMasters Inc. is a leading international distributor of high performance and high-temperature military specification wire, cable and associated accessories. Since its inception, WireMasters has operated under the mantra, "Quality is not expensive….it is Priceless". Our knowledgeable account executives and AS9100 & ISO 9001:2008 quality standards allow us to provide the quickest quotes in the industry, all supported by a quality certified network of support. WireMasters', Inc. headquarters are in Columbia, TN with additional warehouses in Grapevine, TX, Mesa, AZ, Queretaro, MX, Mexicali, MX and Cranston, RI and stocks well over 70 million of feet of wire and cable inventory.
For more information visit www.wiremasters.net
About DANNEWITZ GmbH & Co – In 1989 DANNEWITZ GmbH & Co, abbreviated DKG, started as a distributor of the companies Raychem and BentleyHarris. The long-term close collaboration with the best international manufacturers in the industry, TE Connectivity, and Federal Mogul, distinguishes us.
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