TTI acquires Ray-QOctober 10, 2013
TTI Inc., an indirect, wholly owned subsidiary of Berkshire Hathaway headquartered in Fort Worth, has acquired Ray-Q Interconnect for an undisclosed amount, the company said Oct. 4.
Founded in 1969 as a Raychem subsidiary based in Israel with offices in Turkey and India, Ray-Q provides high quality electrical interconnect solutions to military, aerospace and other high-reliability product industries. Since 2000, the company has been incorporated as a representative, consultant and distributor of leading technologies and interconnect products of world-class manufacturers for Israel, Turkey, India and Eastern and parts of Central Europe.
Gene Conahan, president TTI Europe and Asia, said in a news statement, “It’s not often a company has the opportunity to add such longevity and superior technical value to their service offering. I am very pleased to be bringing the wiring and harness assembly expertise of Ray-Q to the TTI teams in Europe and Asia – and to the benefit of our customers worldwide.”
Ray-Q employs approximately 70 associates and counts among its customers virtually every major defense contractor.
Ray-Q Chief Executive Officer Yigal Funt will continue to lead the Ray-Q organization and business initiatives and will report to Conahan.
Paul Andrews, TTI founder and CEO, commented, “While Ray-Q’s long track record of success speaks for itself, I am particularly gratified by the company’s mission: to be a supplier of choice, always dealing ethically with our customers, our supplier partners and fellow employees. These are the values that have been core to TTI’s success for over 40 years and ensure that this is an excellent cultural fit for both of our companies.”