Passive and electromechanical component specialist TTI has strengthened its European presence and specifically its profile in France through the acquisition of Mateleco Group, France's number one connector distributor.
Mateleco was founded in 1975 and for 33 years has grown and expanded throughout Europe. It started as an electromechanical component specialist. In 1998 it entered passive component distribution when it bought the French distributor, Banalec. The acquisition brings TTI six locations strategically located throughout the country and a broad and diverse customer base.
The good news on the customers is that there appears to be very little overlap. TTI President and CEO, Paul Andrews, said, “Through our due diligence we found there were limited duplications of Mateleco customers and TTI customers, thus giving the two companies the broadest customer base in France.” Andrews continued, “This acquisition will establish TTI and Mateleco as the number one distributors in both passives and connectors in France.”
Mateleco will operate independently as a wholly-owned subsidiary of TTI. The management team will remain in place with Claude Joly as President and Bernard Le Jeune and Bernard Franchet as corporate officers. Joly will report to Gene Conahan, TTI Europe’s President.
Messieurs Joly, Franchet and Le Jeune may also have some more products to sell in the near future. TTI's move into the semiconductor arena began last year. It is focusing its efforts on the discrete sector of the market, and last week it added Toshiba's discrete semiconductor devices to its linecard, where Toshiba joins Bourns, Vishay and Littelfuse
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