Coleman Cable to draw on revolver to buy electrical products business

By Sara Rosenberg

New York, Nov. 2 - Coleman Cable Inc. plans to use borrowings under its revolving credit facility to fund the acquisition of the electrical products business of Katy Industries, Inc., according to a company news release.

The purchase price for the business is $45 million. Included in the acquisition is net working capital in excess of $41 million.

Closing is expected to occur effective Nov. 30, subject to customary conditions.

Coleman is a Waukegan, Ill.-based manufacturer and innovator of electrical and electronic wire and cable products.

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