NEWS
Crossplane Capital Portfolio Company Accent Wire Tie Acquires Cavert Wire Company
DALLAS, July 7, 2021 – Accent Wire Tie (“Accent”), a portfolio company of Crossplane Capital, announced the acquisition of Cavert Wire Company (“Cavert”). Founded in 1910 and based in Rural Hall, North Carolina, Cavert is North America’s largest manufacturer of baling wire for the recycling industry. The combination of Accent and Cavert forms North America’s largest and most strategic supplier for all baling wire products and bale packaging equipment. The combined market presence enhances Accent’s ability to deliver best-quality products, equipment, and service to the industry.
“We are delighted to welcome Cavert to the Accent family,” said Bill Sims, CEO of Accent. “Cavert has over a hundred-year legacy of manufacturing quality baling wire and will bring an Accent-operated producing mill into the industry’s largest and most comprehensive supply chain. Cavert’s sales team and production facility are great additions to Accent.”
“We are excited to join forces with Accent,” said Charles Spittler, president of Cavert Wire Company. “We believe Cavert’s long-term experience supplying the recycling industry and our North Carolina plant are important additions to Accent. We are looking forward to new opportunities and growth for our team.”
“The acquisition of Cavert adds important manufacturing and distribution capabilities to Accent’s existing 19 warehouses and 18 producing mill relationships,” said Brian Hegi, Crossplane Capital partner. “With the largest and most comprehensive baling wire manufacturing and distribution network serving the recycling and waste industry, we believe the combination of Accent and Cavert will only improve Accent’s industry leading customer service.”