Electronics distributor TTI, Inc. has acquired Astrex Electronics, a privately held connector specialist headquartered in Plainview, New York.
"I'm very pleased to be bringing Astrex Electronics into the fold of the TTI family of companies,” said Mike Morton, president TTI Americas. “I am confident that Astrex's 50 years of focus and success in the military/aerospace connector marketplace will prove to be of exceptional benefit to the customers of all the TTI companies—I'm looking forward to having the Astrex experience and expertise on our team."
TTI and Astrex Electronics are members of Global Purchasing’s Top 50 Electronics Distributors list. TTI ranked 6th on the 2014 Top 50, with $1.68 billion in sales, and Astrex ranked 29th, with $37.6 million in sales.
Astrex President Mike McGuire added that, "Our team is very excited to be joining the esteemed TTI organization. Joining an organization with such well-known commitment to connector products, customer service, technical expertise and resources will allow us to provide our customers with an even higher level of service. We look forward to being a part of the culture and values TTI is known for."
Astrex will operate independently of the TTI organization “until such time as system integration is complete,” according to TTI. McGuire will report directly to Morton beginning immediately and after the integration.
Paul Andrews, TTI Founder and Chief Executive Officer, added, "Astrex's long history of focus and commitment to their core competency is perfectly and culturally aligned with ours at TTI; to be the best, not the biggest specialty distributor of electronic components in the industry. I'm happy to welcome the Astrex associates and their customers to the TTI and Berkshire Hathaway family.