FORT WORTH, TEXAS – MARCH 30, 2007 – TTI, Inc., the world's leading passive and connector specialist, announced today the closing of its acquisition by Berkshire Hathaway Inc. making TTI and its affiliate Mouser Electronics part of the Berkshire Hathaway Group, whose Chairman and CEO is Warren Buffett.
Paul Andrews, TTI Chairman and CEO, commented, "The deal is complete and TTI and Mouser are honored to be part of the distinguished Berkshire Hathaway family. We anticipate a smooth and seamless transition internally as well as for our customers and suppliers." He emphasized that the acquisition positions TTI and Mouser for the long-term. "This is a perfect union of one great company becoming part of another. Berkshire’s management style melds perfectly with the way TTI has conducted its business for the past 36 years. Berkshire has an entrance strategy, but no exit strategy and that suits my business philosophy for TTI," Andrews said.
TTI's and Mouser's management will remain in place and will continue to run TTI's day-to-day activities. This ownership change should be invisible to customers and suppliers.
TTI finds itself among a distinguished list of some of the most solid businesses and recognizable brand names in North America including GEICO Insurance, See's Candies, Business Wire, Fruit of the Loom and NetJets, just to name a few. TTI becomes the third Fort Worth-based company to be purchased by Berkshire Hathaway. Acme Building Brands and Justin Brands also are owned by Berkshire Hathaway.
About TTI, Inc.
Headquartered in Fort Worth, Texas, TTI, Inc. is the largest distributor specialist of passive, interconnect and electromechanical components. TTI is the distributor of choice for industrial and consumer electronic manufacturers worldwide. TTI’s extensive product line includes: resistors, capacitors, connectors, potentiometers, trimmers, magnetic and circuit protection components, wire and cable, identification products, application tools and electromechanical devices. TTI is recognized as the industry’s leader in service and quality and provides a broad array of supply chain services to its customer base. TTI employs 1,700 with more than 50 locations throughout North America, Europe and Asia. For more information about TTI visit www.ttiinc.com.
Mouser Electronics, Inc. is an electronic component distributor, focused on the rapid introduction of new products and technologies to electronic design engineers. Mouser.com features over 730,000 products online from more than 300 manufacturers. Mouser's 1,800+ page catalog is published every 90 days, providing designers with up-to-date data on the components now available for the next generation of electronic devices. Mouser ships globally to over 280,000 customers in 170 countries from its 432,000 square foot state-of-the art facility in Mansfield, Texas. For more information about Mouser, visit www.mouser.com.