Fort Worth-based TTI, Inc. a wholly owned subsidiary of Berkshire Hathaway, today announced the acquisition of privately held Compona AG of Switzerland and the company’s German subsidiary Cosy Electronics GmbH.
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. The Compona Group is well known for their technical expertise, consistent quality and on-time delivery. Compona CEO, Riet Morell, will continue to lead Compona AG 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, according to a TTI news release. Cosy GmbH will expand the TTI footprint in Germany while also enhancing value added capabilities and technical expertise. Compona and its German subsidiary have about 90 employees.
Dennehy said of the acquisition, ““We are proud to be bringing Compona and Cosy’s experienced and talented team, plus their high quality and specialist supplier line card, into the TTI Family of Companies and welcome the opportunity to enhance their already preferred status with their customer base.”
Paul Andrews, TTI Founder and Chief Executive Officer, welcomed his new associates, “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.”