NEW YORK- Cerberus Capital Management, L.P. (“Cerberus”) today announced the completion of the previously announced acquisition of Electrical Components International, Inc. (“ECI”) by a Cerberus affiliate from affiliates of KPS Capital Partners, LP.
ECI is the world’s leading manufacturer of wire harnesses, control boxes, and value-added assembly services for consumer appliance and specialty-industrial applications.
ECI’s global platform extends from its headquarters in St. Louis, Missouri across 35 manufacturing facilities around the world, offering the footprint and scale to provide best-in-class service and exceptional product quality to its global, blue-chip customer base.
Michael Sanford, Co-Head of North American Private Equity and Senior Managing Director of Cerberus, said: “Over the past six decades, ECI has established itself as a trusted global partner and supplier to the world’s leading home appliance and specialty-industrial equipment manufacturers. We are excited to work hand-in-hand with ECI’s talented management team to build upon that legacy of success and capture additional opportunities for growth.”
David Webster, Chief Executive Officer of ECI, said: “With this partnership, Cerberus provides ECI with the resources we need to invest in organic and inorganic growth as well as operating expertise to advance our strategic vision for the company. Cerberus shares our ‘Service is Everything’ commitment to our employees, customers, and communities. We look forward to combining forces with Cerberus’s world-class organization to further strengthen our best-in-class global operations and drive value for all of our stakeholders.”