Sager Electronics to Acquire Norvell Electronics
Sager Electronics, a leading North American distributor of Interconnect, Power and Electromechanical components, today announced that it has entered into a purchase agreement to acquire Norvell Electronics, Inc., a North American distributor with extensive design and manufacturing capabilities, headquartered in Carrollton, Texas.
Norvell will become an integral component of Sager Power Systems, a specialized group within Sager Electronics.
Frank Flynn, President of Sager Electronics, said, “Our acquisition of Norvell further accelerates our power growth strategy. The key aspect of this acquisition is Norvell’s value-added capability, which is central to our strategy and continued growth with customers and suppliers. Sager Power Systems now has the people, the lines, the inventory, and the value-added capability to fulfill our vision of being a market leading power distributor.”
“The Norvell team is excited to join the Berkshire Hathaway family of companies as part of Sager Electronics and its specialized group, Sager Power Systems. We see a great opportunity to offer our expertise on a much larger scale with access to more customers who require value-add solutions,” said Chris Tvrdik, President of Norvell Electronics. “We look forward to joining a company with a world class power line card and dedicated technical resources serving power customers, with the vision and commitment to being a leader in the power space.”
Norvell Chairman A.W. Tvrdik will retire upon completion of the acquisition. Chris Tvrdik, Norvell’s President, will join Sager Electronics as Vice President Value Added Sales and Service. The acquisition is subject to customary closing conditions. The transaction is expected to close by July 6, 2015.