TTI, Inc., an indirect, wholly owned subsidiary of Berkshire Hathaway, today announced that it has entered into a purchase agreement to acquire SMD Inc., a privately held electronic component distributor headquartered in Irvine, California. Upon completion of the transaction, SMD President/Owner Rich Unruh will continue to lead the company, reporting to Don Akery, President, TTI Americas.
SMD Inc. is a specialty, authorized distributor of electronic and electrical components, services, and logistic solutions in North America. Mr. Akery said of the acquisition, “the specialized nature of SMD’s business and their dedication to product knowledge and customer support make the company a perfect fit for the TTI Family of Specialists. I look forward to welcoming Rich and his team of Specialists to the TTI and Berkshire Hathaway family.”
Rich Unruh added, “while building our business over the last 30 years has been exciting, the most rewarding aspect has been nurturing a knowledgeable, helpful and customer focused culture. Our team of dedicated Specialists are looking forward to joining the dedicated Specialists of TTI.”
The acquisition is subject to the applicable waiting period and customary closing conditions, including regulatory approvals. The transaction is expected to close by January 1, 2022.
About TTI, Inc.
TTI, Inc., a Berkshire Hathaway company, is an authorized, specialty distributor of electronic components. Founded in 1971, the emphasis on a broad and deep product portfolio, available-to-sell inventory and sophisticated supply chain programs has established TTI as a distributor of choice to manufacturers in the industrial, defense, aerospace, transportation, medical and communications sectors worldwide. TTI and its wholly owned subsidiaries, the TTI Family of Specialists, Mouser Electronics, Sager Electronics and the Exponential Technology Group employ over 7,300 people in more than 136 locations throughout North America, South America, Europe, Asia and Africa. Globally, the company maintains over 3 million square feet of dedicated warehouse space in 30 distribution centers, housing over 850,000 component part numbers. For more information about TTI, visit www.tti.com
About SMD Inc.
SMD Inc. is a provider of electronics and electrical components, services and logistic solutions for commercial, industrial and military manufacturers. Offering a wide variety of products from an authorized supplier base. SMD provides technical and sales expertise on all product lines and commodities. SMD Inc. is a specialized distributor with a focused product offering. This has allowed us to be experts in our supplier’s product offerings. SMD Inc. offers supply-chain and logistics solutions to a variety of market segments including energy, medical, industrial controls, defense, automotive and transportation services. For more information about SMD, visit SMDINC.com
About Berkshire Hathaway
Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B. For more information about Berkshire Hathaway, visit BerkshireHathaway.com