Founded in 2008, Distributor Wire and Cable (DWC) is one of the largest master distributors of wire and cable in the United States. The company serves as a liaison between wire and cable manufacturers and their downstream distributors and wholesalers. DWC focuses primarily on specialty wire and cable, which accounts for 15% to 20% of the market.

The Need: Financial Flexibility for Future Growth

Customer service sets DWC apart. DWC cultivates customer relationships at the branch level as well as the corporate level, thereby fostering strong client loyalty. The company also utilizes a proprietary customer portal — fastQuote — to deliver industry-leading quote times.

Industry tailwinds provided DWC with room for growth and the opportunity to expand into new markets, both of which required greater financial flexibility. Identifying Crossplane Capital as the ideal acquisition partner was the first step. The next was working with PNC Business Credit to support the Crossplane acquisition and provide DWC with the flexible capital necessary to support long-term growth.

The Solution: Patience and Position

Working with PNC Business Credit provided the patience and position needed for an ideal financial solution. 

PNC Business Credit maintains a strong relationship with DWC's financial sponsor, Crossplane Capital, which has entrusted PNC with financing needs on both current and past projects. PNC Business Credit has also worked with companies across a wide range of industries and recognizes the unique attributes associated with a two-step distribution model.

Patience proved necessary when supply chain constraints led to large commodity price swings, putting the acquisition on hold. When market conditions stabilized in 2024, PNC was prepared to move quickly with a deal that aligned all stakeholders and set the stage for long-term future growth.

The Results: Acquisition and Expansion

A revolving credit facility paired with a term loan and a CapEx line enabled the acquisition of DWC by Crossplane Capital and gave DWC the liquidity needed to purchase new equipment and pursue greenfield expansions into new markets.

DWC is now positioned to capitalize on surging demand for wire and cable products, driven by advancements in industrial automation, data centers and the growing need for high-throughput, high-reliability, and specialized cable solutions. Backed by PNC Business Credit and empowered by Crossplane Capital, DWC is now better positioned to capitalize on the broad electrification trends impacting the U.S. while keeping its competitive edge: superior customer service.

For DWC, PNC delivered:

  • A revolving credit facility, a CapEx line, and a term loan
  • Funds to partially finance the acquisition of DWC by Crossplane Capital and support future growth
  • Treasury management services

Let's Build Your Brilliant

At PNC Bank, we combine flexible financing options with a relationship-based approach to cultivate a reputation for service, consistency, and confidence. Let's build your brilliant together.