Cables Unlimited Inc., a privately owned Yaphank fiber-optic cable maker, has been sold to a California company in a $5.6 million deal, the buyer said.
CUI makes coaxial and other forms of cable, as well as wire harnesses, for a variety of industries including aerospace, medical, appliance, automotive and computer.
The transaction was reported by RF Industries Ltd., of San Diego, publicly traded on the Nasdaq as RFIL. The buyer said it “has entered into a definitive agreement” to buy Cables Unlimited, which it said had a profit of about $645,000 on $6.2 million revenues in 2010.
It will pay $2.8 million in cash and will issue 760,000 in shares to fund the transaction. The deal is expected to close next week.
". . . CUI's warranted fiber-optic products will be in high demand from our distributors and customers who are very interested in adding fiber-optic products to their enterprise and carrier network customers,” RF Industries said in a news release.
“Founded in 1992, CUI is a high quality interconnect cable and wire harness manufacturer serving OEM [original equipment maker] customers throughout United States and Canada,” the buyer said.