Promark Electronics sold to ECI
Montreal maker of wire harnesses and cable and electromechanical assemblies formed in 1987
Electrical Components International (ECI) Inc., a global supplier of wire harnesses, electrical components, and sub-assemblies for diversified industrial markets, has announced its acquisition of Promark Electronics Inc.
Founded in 1987 by Syd Knecht, Promark Electronics is a manufacturer of wire harnesses and cable and electromechanical assemblies utilized by commercial electric vehicles and other technically-complex, mission-critical products. With the growing demand for commercial electric vehicles, Promark Electronics has developed high-voltage cable and assemblies as part of its ProEV platform, which has made it a trusted partner to leading commercial electric vehicle manufacturers. The company will continue and expand its manufacturing operations at its Montreal facility.
“We are excited to partner with Promark Electronics and establish ECI as the high-voltage harness supplier of choice in high-value, high-growth markets,” said ECI CEO Mike Balsei. “With ECI’s global scale and Promark Electronics’ proprietary solutions, we will be able to help manufacturers meet the increasing demand for commercial electric vehicles as well as in adjacent e-mobility verticals.”
The Knecht Family will continue to lead the Promark Electronics team. In a joint statement, Jarred, Brandon, and Robert Knecht commented: “We are incredibly proud of the business and reputation that our family has built over the past three decades. We are thrilled to have found an industry-leading partner to help us further accelerate our growth, particularly in the e-mobility space. We are excited to join the ECI family, deepen our customer relationships, and continue our long track record of innovation and excellence.”
Wire harnesses and connection systems
ECI is a portfolio company of Cerberus Capital Management, L.P., a global leader in alternative investing. Earlier this year, ECI acquired Omni Connection International, a manufacturer of wire harnesses and connection systems for leading tier one automotive suppliers.
Michael Sanford, senior managing director at Cerberus, added: “Promark Electronics adds a highly complementary platform serving a rapidly growing market. We remain excited about the strategic opportunities for ECI and look forward to supporting the business’ continued growth.”