TPC Wire & Cable Acquires The First Electronic Corp.
TPC Wire & Cable, a portfolio company of Audax Private Equity, announced that it has completed the acquisition of The First Electronics Corporation (FEC), a leading supplier of manufactured custom cable assemblies for military and defense applications. Founded in 1955 and based in Boston, Mass., FEC has grown to be the leading supplier of electrical wiring harnesses, specializing in the production of over-molded, extra-flexible, multi-conductor, EMI-shielded cable assemblies and harnesses, and electro-mechanical assemblies custom-built for military applications.
“At TPC, we continue to focus on providing high-performance connectivity solutions for our customers’ high-cost-of-failure applications. We’ve invested in our Engineered Products Division to build on this promise in a growing number of high-reliability end-markets and applications. Our investment in FEC will enable the organization to build upon the success that the FEC team has achieved over the years. Our commitment is to provide the FEC organization with the tools and resources to provide the highest quality products and services to their customers,” said Jeff Crane, president and chief executive officer of TPC.
Speaking on the transaction, Will Donnellan, the president of FEC noted, “FEC has enjoyed exponential growth over the last two years. In order to continue that growth and deliver the highest quality product in support of our nation’s defense, we needed to find a strategic partner who had the resources to help us grow and expand but that also understood the military and aerospace marketplace. We found that in our partnership with TPC. FEC is excited about the synergies and additional capabilities the TPC team will add to our industry-leading product line.”
TPC recently formed its Engineered Products Division to expand its coverage of high reliability end-markets like space, aerospace & defense, semiconductor, subsea, renewables and medical devices among others. The partnership with FEC enhances TPC’s solutions offering to these end-markets by expanding its portfolio of specialized wire and cable solutions for high reliability, mission critical applications.