Coleman Cable Completes Copperfield Acquisition and Related Financings


WAUKEGAN, Ill., April 2 -- Coleman Cable, Inc. (NASDAQ:CCIX) ("Coleman Cable") announced today the closing of its acquisition of Copperfield, LLC. Pursuant to the acquisition agreement, originally announced on March 11, 2007, Coleman Cable acquired all of the equity interests of Copperfield, LLC for $213 million in cash. Management believes that the Coleman Cable-Copperfield combination will result in one of the premier U.S. based manufacturers of electrical and electronic wire and cable products. The strategic acquisition of Copperfield broadens the scope of Coleman Cable's product offering, further strengthens its strategic relationships with industrial distributors and increases Coleman's end-market diversity. Coleman Cable expects the acquisition of Copperfield to be accretive to earnings per share for 2007.

"The successful close of this transaction is an important achievement for Coleman Cable and its shareholders," said Gary Yetman, CEO of Coleman Cable. "I look forward to working closely with the numerous talented employees at Copperfield as we work to make Coleman Cable the electrical and electronic wire and cable products supplier of choice in multiple industries."

In connection with the acquisition, Coleman Cable also announced today the closing of its offering of $120 million aggregate principal amount of 9 7/8% Senior Notes due 2012 along with the completion of a concurrent refinancing of its credit facilities. Proceeds to Coleman Cable from the notes offering totaled $123.5 million. The notes are unsecured senior obligations of Coleman Cable and are guaranteed on a senior basis by its current and future domestic subsidiaries. The notes bear interest at a fixed rate. The notes were offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

In conjunction with the acquisition and related financings, Coleman Cable received credit rating upgrades from both Moody's Investor Service and Standard and Poor's.

Wachovia Capital Markets, LLC served as Coleman Cable's financial advisor for the acquisition and as sole book runner for the notes offering. William Blair & Co. provided an opinion as to the fairness, from a financial point of view, of the consideration paid in the acquisition to Coleman Cable's shareholders. Mayer, Brown, Rowe & Maw, LLP acted as the company's legal advisor.

About Coleman Cable

Coleman Cable is a leading manufacturer and innovator of electrical and electronic wire and cable products for the security, sound, telecommunications, electrical, commercial, industrial, and automotive industries. With extensive design and production capabilities and a long- standing dedication to customer service, Coleman Cable is the preferred choice of cable and wire users throughout the United States. Coleman Cable is located at 1530 Shields Drive, Waukegan, IL 60085. Visit our website at www.colemancable.com/ .

Source: Coleman Cable, Inc.

CONTACT: Richard Burger, Executive Vice President and Chief Financial Officer of Coleman Cable, Inc., +1-847-672-2300

Web site: www.colemancable.com/

All Topics