TELE-FONIKA Kable (TFKable) is to acquire subsea umbilicals and power cables supplier JDR Cable Systems.
TFKable is a global producer of wires and cables. Both companies have a long history of collaboration, with TFKable being JDR’s business partner providing water blocked power cores for its cable and umbilical systems JDR’s subsea systems, used in the global offshore oil, gas and renewable industries, allow its customers to power and control their offshore operations, and will enhance the range of cable solutions TFKable can provide to its customers.
The transaction, which is subject to receipt of required regulatory approval and consents and other customary closing conditions, is expected to close in Q3 2017.
“TFKable is a strategic investor with long-term vision for JDR, sufficient resources to support its continued growth, and vast knowledge of the market. We highly appreciate JDR’s experienced people, recognized brand name, technological competence and a successful track record with regards to numerous innovative products,” says Monika Cupiał-Zgryzek, TFKable CEO. “TFKable is planning to maintain JDR’s operations in current locations, providing new opportunities for the local employees and business partners, and offering our customers innovative solutions.”
“Our investment in manufacturing facilities has transformed JDR, tripling revenues and growing the business to become a leading supplier to the oil, gas and renewables industries,” says Jonathan Guest, principal at Vision Capital, JDR’s selling majority owner. “We are delighted to have secured a long-term strategic owner for the business in the next stage of its development.”