Warren Buffett is making another foray into distribution. His firm, Berkshire Hathaway Inc., Omaha, NE, will buy electronic component distributor TTI, Inc., Fort Worth, TX, The acquisition will also include TTI's subsidiary Mouser Electronics.
TTI, Inc. will operate as a wholly owned subsidiary of Berkshire Hathaway. Operations will not be affected by the ownership change.
TTI and Mouser have enjoyed consistent growth for many years and are embarking on a growth strategy that includes international expansion and new product expansion, along with the addition of several key franchise additions. Today, TTI operates in more than 19 countries with more than 50 branch locations. In addition, Mouser has recently completed a major facility expansion which has more than doubled its capacity.
Berkshire Hathaway purchased cutting-tool maker Iscar earlier this year. It entered distribution with its acquisition of McLane Co., a groceries distributor, in 2003.
TTI, Inc. is a of passive, interconnect and electromechanical components. TTI serves industrial and consumer electronic manufacturers. TTI's product line includes: resistors, capacitors, connectors, potentiometers, trimmers, magnetic and circuit protection components, wire and cable, identification products, application tools and electromechanical devices.