TTI’s Exponential Technology Group Announces Acquisition of BGM Electronic Services
Fort Worth, Texas – August 2022 – BGM Electronic Services (BGM), a privately held Engineering Design Services firm based in Auburn Hills, Michigan was acquired by TTI’s Exponential Technology Group (XTG), a leading specialty distributor of electronic components.
BGM will continue to operate under the BGM brand name, and Terry Bishop, company founder, will remain in charge of the business as President, reporting to XTG President and TTI SVP Business Development, Michael Knight.
Commenting on the announcement, Knight said, “The acquisition of BGM is part of a larger business strategy to assist our customers with component selection and sourcing, product design, and the transition of the finished design into manufacturing. BGM joins two other electronic design service firms that are part of XTG - Connected Development headquartered in Cary, North Carolina, and Paragon Innovations headquartered in Richardson, Texas – and brings our collective hardware, software, and mechanical engineering headcount to over 80 people. As part of the TTI Family of Specialists, which includes Mouser Electronics, this group is attached to one of the largest inventories of electronic components on the planet. Once component vendors and part numbers have been selected, inventory is pipelined to support prototyping, pre-production, and even production builds, establishing a component supply chain for every project as early as possible in the product’s lifecycle. In a time like now with extended component lead times and chronic supply chain disruptions, this capability is a difference maker for our customers.”
Terry Bishop said “We know and work closely with the component specialists at TTI and their subsidiaries, Mouser Electronics and the Exponential Technology Group. They get us and we get their vision for the electronic component supply chain of the future. The synergies are exciting, and our entire team is thrilled to join this world-class organization. As part of a group owned and backed by Berkshire Hathaway, our ability to scale for our customers is set to go to a whole new level.”
About BGM Electronic Services
Founded in 2017 by a team that has spent the past 30 years emerged in the industrial, medical, IoT and automotive electronics industries, the company has an impressive clientele and a track record of making complex designs and projects work. When called upon by General Motors during the height of the COVID pandemic to manage the entire electronics procurement and manufacturing of the GM/Ventec/US Government Ventilator Project, BGM delivered 390,000 electronic assemblies for 30,000 ventilators in just 150 days! This achievement was recognized by GM with the 2020 Supplier of the Year – Over Drive Achievement Award. For Fortune 100 companies to startups, BGM provides turn-key product development services and production solutions from inception to market launch, on time and on budget. Learn more at www.bgmes.com.
About TTI, Inc.
TTI, Inc., a Berkshire Hathaway company, is an authorized, specialty distributor of interconnect, passive, and electromechanical (IP&E) components and the distributor of choice for industrial and consumer electronics manufacturers worldwide. Broader and deeper inventory, leading edge products and custom supply chain solutions have established TTI as the leading specialist in electronic component distribution. Globally, the TTI Family of Companies maintains over two million cubic feet of dedicated warehouse space containing over one million component part numbers. Along with its subsidiaries, Mouser Electronics, Sager Electronics, and the Exponential Technology Group, TTI employs over 7,000 employees and is represented in over 130 locations throughout North America, Europe and Asia. For more information about TTI, visit www.ttiinc.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 www.BerkshireHathaway.com
About The Exponential Technology Group
The Exponential Technology Group (XTG) was created to provide TTI customers a specialty semiconductor supply chain option formed in the ethical and hardworking spirit they are accustomed to from TTI and its subsidiaries. XTG joins TTI, Inc., Mouser Electronics and Sager Electronics in the TTI Family of Specialists, giving purchasing communities and manufacturers a well-funded and well-known global distributor backed by the strength of Berkshire Hathaway. For more information about Exponential Technology Group, visit www.xponentialgroup.com.
Contact:
Angie Barbian
Marketing Supervisor
+1-424-236-4609
angieb@symmetryelectronics.com
