Cerberus Capital Management has completed the sale of Electrical Components International (ECI) to Rosebank Industries for approximately $1.9 billion.
As a leading supplier of complex electrical distribution systems and control box assemblies, ECI serves around 500 customers globally. With 39 manufacturing facilities and strong engineering capabilities, ECI has become a preferred supplier in industrial technology, specialty transportation, HVAC, and appliances.
Since acquiring ECI in 2018, Cerberus has helped transform it into a diversified global industrial technology platform. Under the leadership of CEO Mike Balsei, who joined in 2020, ECI expanded into high-growth markets through organic growth and nine strategic acquisitions, thereby enhancing profit margins and strengthening customer relationships.
Advisors/counsel: Debevoise & Plimpton served as legal counsel, and Goldman Sachs, Rothschild, and Guggenheim Securities served as financial advisors to Cerberus and ECI in connection with the transaction.
KEY QUOTES:
“It has been a tremendous journey with ECI and its team over the past seven years. Together, we transformed the Company into a diversified industrial technology platform by entering new markets, both organically and through acquisitions, and broadening its offerings. 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.”
Mike Sanford, Global Head of Private Equity at Cerberus
“ECI’s leadership today reflects the exceptional talent of our team and our great partnership with Cerberus. We’ve expanded into strategic markets, strengthened our operations for efficiency and scale, and deepened our technical and engineering capabilities, further setting ECI apart in the industry. We’re grateful to Cerberus for their unwavering support during our growth and look forward to building on our momentum with Rosebank in the years ahead.”
Mike Balsei
