Cerberus Capital Management has completed the sale of Electrical Components International to Rosebank Industries in a transaction valued at approximately $1.9bn.
ECI supplies complex electrical distribution systems, control box assemblies, and other critical engineered components, serving approximately 500 customers globally through its network of 39 manufacturing facilities and advanced engineering and technical capabilities.
Since Cerberus’s acquisition in 2018, the company has transformed from a primarily North American home appliance harness manufacturer into a global industrial technology platform. This has included the appointment of Mike Balsei as CEO in 2020, and a mix of organic and acquisition-driven growth.
In addition, ECI executed on a number of operational initiatives throughout core business functions, which drove substantial margin enhancement and deepened relationships across its diverse blue-chip customer base.
Debevoise & Plimpton served as legal counsel and Goldman Sachs, Rothschild, and Guggenheim Securities served as financial advisors to Cerberus and ECI with respect to the transaction.
