NEWARK, NY -- IEC Electronics has acquired Southern California Braiding, a privately held manufacturer of wire and cable products for the military and defense market.

IEC paid $25 million for Bell Gardens, CA-based SCB, which has annual revenue of about $20 million. The acquisition is expected to be immediately accretive, IEC said.

IEC financed the purchase by a credit facility of approximately $24.4 million and $600,000 in equity.

"SCB is a well run company with strong margins and it occupies an important niche in the military and defense market," said chairman and CEO W. Barry Gilbert. "This acquisition further diversifies IEC's customer base and introduces us to new opportunities with existing customers. SCB complements our existing wire and cable business, IEC Electronics Wire and Cable, developed from our Val-U-Tech acquisition in June 2008."

Once on the fringe of financial stability, IEC continues to make a strong recovery in the EMS sector. It is the firm's third acquisition in the past year: the company also purchased General Technology Corp. and Celmet.

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