ST. LOUIS & CORONA, Calif.--(BUSINESS WIRE)--Electrical Components International, Inc. (“ECI”), a leading global supplier of wire harnesses, electrical components, and sub-assemblies for the diversified industrial markets, today announced the acquisition of Omni Connection International (“Omni”).
Omni manufactures wire harnesses and connection systems for leading tier one automotive suppliers and is well-positioned to benefit from the long-term growth expected with automotive Advanced Driver-Assistance Systems (“ADAS”). Family-owned and managed since its founding in 1991, the company provides high-quality wire harness solutions for applications including smart mirrors, cameras, lamps, and other peripheral electronics. Omni is supported by 1,300 team members across the globe with facilities in the United States, China, and the Philippines.
“We are excited to welcome Omni and its talented team to the ECI family,” said Michael Balsei, Chief Executive Officer of ECI. “With its leading electrical architecture solutions and strong engineering capabilities, the company has established longstanding relationships with tier one automotive suppliers. The prevalence of automotive electronic components and the shift to advanced safety will drive continued demand for Omni’s innovative products. By bringing together ECI’s and Omni’s complementary platforms, we will be able to capture significant growth opportunities in this strategic end market.”
Henry Cheng, Founder and Chief Executive Officer of Omni, commented: “Omni has been a trusted partner to premier automotive suppliers for nearly three decades by maintaining a commitment to quality, delivery, and price. ECI is a world-class organization, and we are thrilled to have their full backing in our next phase of growth. With ECI’s scale, resources, and leadership, we will be even better positioned to serve our customers, while expanding our global reach.”
ECI is a portfolio company of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing. Michael Sanford, Senior Managing Director at Cerberus, added: “Omni is a great strategic fit for ECI. The combination adds complementary capabilities in a market with strong secular trends driven by advanced safety system requirements, while expanding ECI’s manufacturing footprint to support its long-term growth. We look forward to the many opportunities this transaction will provide for both companies.”
Barclays served as financial advisor and Debevoise & Plimpton LLP served as legal counsel to ECI and Cerberus. Deloitte Corporate Finance LLC served as financial advisor to Omni and Stradling Yocca Carlson & Rauth acted as legal counsel.
Founded in 1953, Electrical Components International, Inc. (ECI) is one of the world’s leading wire harness, electrical components, and sub-assembly suppliers for the diversified industrial markets. With nearly 22,000 employees in 31 facilities spanning eight countries and four continents, ECI’s “blue-chip” customer base includes many firms in the Fortune 500 across the appliance, HVAC, construction, agriculture, transportation, and critical infrastructure sectors. For more information about ECI, visit www.ecintl.com.
With 30 years of experience in the North American automotive industry, Omni Connection International specializes in wire harnesses for automotive and electronic applications, including interior and exterior mirrors, as well as cameras, lamps, and other peripheral electronics. Omni delivers quality products through its relentless focus on quality and the needs of tier one auto suppliers to large OEMs, supported by a strong, U.S.-based logistics system to ensure on-time delivery. For more information, visit www.omni-conn.com.
Founded in 1992, Cerberus is a global leader in alternative investing with over $55 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.