TTI buys Compona
- Autor:Ella Cai
- Zwolnij na:2018-07-12
Berkshire Hathaway subisidiary TTI has bought Compona of Switzerland and Compona’s German subsidiary Cosy Electronics. Both Compona and Cosy are specialty distributors of interconnect products and provide services such as in-house assembly of specific connector ranges and full support on custom cable harnesses. Compona CEO, Riet Morell, will continue to lead Compona reporting to Glyn Dennehy, TTI President, EMEA.
The combined revenue and market share of TTI and Compona will create the largest specialty distributorship of interconnect, passive and electromechanical products in Switzerland. Cosy GmbH will expand the TTI footprint in Germany while also enhancing value added capabilities and technical expertise. In the face of increasing international competition, Compona’s business will benefit from TTI’s broad and deep stocking strategy and global warehouse network.
“After succession could not be found within the family and company, solutions were sought externally. We wanted to find a new owner who respects the values of the founders, appreciates the employees and supports the business in the long term,” says Urs Horat, founder and former owner of Compona, “with TTI, we have found an internationally highly successful company that wants to continue to maintain the Compona brand, help to secure the future and to further expand its business.” Horat continued. “No changes are expected for employees and customers. The management team under CEO Riet Morell also remains unchanged.”
Paul Andrews, TTI Founder and CEO, says “It is a special occurrence when one family-founded business is able to offer another the next chapter for their employees and customers – we welcome the fine employees and customers of Compona and Cosy to the TTI and Berkshire Hathaway family.”
The combined revenue and market share of TTI and Compona will create the largest specialty distributorship of interconnect, passive and electromechanical products in Switzerland. Cosy GmbH will expand the TTI footprint in Germany while also enhancing value added capabilities and technical expertise. In the face of increasing international competition, Compona’s business will benefit from TTI’s broad and deep stocking strategy and global warehouse network.
“After succession could not be found within the family and company, solutions were sought externally. We wanted to find a new owner who respects the values of the founders, appreciates the employees and supports the business in the long term,” says Urs Horat, founder and former owner of Compona, “with TTI, we have found an internationally highly successful company that wants to continue to maintain the Compona brand, help to secure the future and to further expand its business.” Horat continued. “No changes are expected for employees and customers. The management team under CEO Riet Morell also remains unchanged.”
Paul Andrews, TTI Founder and CEO, says “It is a special occurrence when one family-founded business is able to offer another the next chapter for their employees and customers – we welcome the fine employees and customers of Compona and Cosy to the TTI and Berkshire Hathaway family.”
