Control box assemblies and engineered components manufacturer Electrical Components International was sold by Cerberus Capital Management to Rosebank Industries for $1.9 billion, completed on Aug. 20.

Founded in 1953, ECI supplies electrical distribution systems, control box assemblies and other engineered components to a broad range of industries. The St. Louis, MO-based company serves approximately 500 customers worldwide and operates 39 manufacturing facilities with a workforce of about 20,000 employees. ECI’s products are used in industrial technology, specialty transportation, HVAC and appliance sectors.

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Private equity firm Cerberus Capital Management acquired ECI in 2018. Following the acquisition, ECI shifted from focusing primarily on home appliance harness manufacturing in North America to becoming a more diversified industrial technology provider with a global footprint. ECI said this transformation was supported by both internal development and strategic acquisitions.

Under the leadership of CEO Mike Balsei, who joined in 2020, the company completed and integrated nine acquisitions. ECI added that the company implemented various operational initiatives across its core business areas, which contributed to improved profit margins and expanded its presence across multiple customer segments.

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“Together, we transformed the Company into a diversified industrial technology platform by entering new markets, both organically and through acquisitions and broadening its offerings,” Cerberus Global Head Mike Sanford said in a news release. “With its commitment to innovation and excellence, ECI has earned a trusted reputation among a global customer base that we’re extremely proud of. We thank Mike and the entire ECI team as they move forward into their next chapter.”