Electrical Components International Acquires Manufacturing Resource Group Inc.
ST. LOUIS & NORWOOD, Mass.--(BUSINESS WIRE)--Dec 21, 2022--
Electrical Components International, Inc. (“ECI”), a leading global supplier of electrical distribution systems, control box assemblies, and other critical engineered components for diversified markets, today announced the acquisition of Manufacturing Resource Group Inc. (“MRG”).
Founded in 1988, MRG is a global leader in electro-mechanical devices and electrical distribution systems. The company provides specialized manufacturing and in-house engineering services for customers serving key industrial tech end markets, including warehouse automation, defense, robotics, medical, and semiconductors. MRG will continue to be led by the current management team, and maintain its headquarters in Norwood, Massachusetts and its facility in Tecate, Mexico.
“Businesses across sectors are investing in warehouse automation technologies to enhance processes and meet accelerated e-commerce demand,” said Mike Balsei, Chief Executive Officer of ECI. “MRG is a proven leader in the automation market with sophisticated capabilities and longstanding customer relationships. This partnership will enable MRG to benefit from ECI’s infrastructure and aligns with our strategy of expansion in high-growth segments. We’re thrilled to welcome the MRG team to our ECI family as we continue to build on our trusted reputation across the globe.”
Bob Marotto, owner of MRG, commented, “We’re incredibly proud of the business we have built over the past 25 years and equally excited for this next phase of growth. ECI is a like-minded partner with a shared commitment to unmatched quality and excellent service. As part of a global leader, we’ll be able to deepen and expand our capabilities to be an even stronger partner to our customers.”
ECI is a portfolio company of Cerberus Capital Management, L.P., a global leader in alternative investing.
Founded in 1953, Electrical Components International (ECI) is one of the world’s leading suppliers of electrical distribution systems, control box assemblies, and other critical engineered components for diversified markets. With 25,000 employees and 37 global manufacturing locations, ECI is the trusted partner to market leaders with 500+ customers. At ECI, we power smart, connected, and electrified solutions that enable the most advanced technologies to solve the most complex challenges. For more information about ECI, visit www.ecintl.com.
Based in Norwood, Massachusetts, Manufacturing Resource Group Inc. (MRG) is a leader in electro-mechanical and cable assembly manufacturing. Since its founding in 1988, MRG has become a trusted provider of cable and electro-mechanical assemblies including, battery cable, multi conductor, din rail assembly, fan trays, and box build products. For more information about MRG, visit www.mrg-inc.com.
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CONTACT: John Gilbert, Vice President of Corporate Development
KEYWORD: MASSACHUSETTS MISSOURI UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ROBOTICS ENGINEERING SEMICONDUCTOR UTILITIES TECHNOLOGY MANUFACTURING ENERGY
SOURCE: Electrical Components International, Inc.
Copyright Business Wire 2022.
PUB: 12/21/2022 09:30 AM/DISC: 12/21/2022 09:31 AM