Russia-based industrial conglomerates Kaskol and Ru-Com have acquired all the assets of US-based CTC Cable’s business.
Mikhail Abyzov, chairman of Ru-Com, which operates the Bright Capital corporate venturing unit that will manage the portfolio company, said: "CTC Cable’s technology and IP [intellectual property] portfolio are outstanding, and with access to additional financial resources, combined with our reach in emerging markets throughout the world, CTC Cable’s advanced conductor product will accelerate its growth across all global markets."
Benton Wilcoxon, former chief executive of Composite Technology Corporation, added: "This is clearly a new chapter in CTC Cable’s growth and evolution. Kaskol’s and Ru-Com’s strength will open opportunities for CTC Cable that it formerly did not have as a dynamic, but undercapitalized firm."