Shawcor (TSX:SCL) acquires Kanata Electronic Services Ltd

Shawcor (SCL) has acquired Kanata Electronic Services Ltd, expanding into nuclear, aerospace and other industrial wire and cable marketsKanata is a privately owned manufacturer and supplier of specialty cable assemblies and wire harnesses for the nuclear and aerospace industriesShawcor is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation marketsShawcor Ltd. (SCL) is down 0.62 per cent, trading at C$12.85 per share at 1:03 pm ET

Shawcor (SCL) has acquired Kanata Electronic Services Ltd, expanding into nuclear, aerospace and other industrial wire and cable markets.

Kanata is a privately owned manufacturer and supplier of specialty cable assemblies and wire harnesses for the nuclear and aerospace industries. It serves customers around the globe from a single Toronto area site. This site will integrate into Shawcor’s ShawFlex wire and cable business.

Frank Cistrone, President of Shawcor’s Automotive & Industrial segment, commented on the news.

“The addition of Kanata to our existing wire and cable portfolio will unlock significant opportunities for vertical integration and market expansion over the coming years. Kanata’s portfolio of technologies, certifications and customer relationships closely align to ShawFlex’s existing capabilities. This will accelerate our strategic growth objectives in key market sectors and geographies.”

Barbara Miller, President of Kanata, also commented on the news.

“Kanata has been a long-standing partner to ShawFlex. We are very pleased to now become a part of the team. We look forward to an even closer working relationship delivering incremental opportunities for our employees and enhanced value to our customers across the industrial and infrastructure markets”

Kanata is also a recognized leader in the design, manufacture and supply of specialty cable and wire harness solutions for the military, medical and commercial industries. In the first nine months of 2022, Kanata generated approximately $3 million in revenue.

Shawcor is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets.

Shawcor Ltd. (SCL) is down 0.62 per cent, trading at C$12.85 per share at 1:03 pm ET.

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