Desco announces platform acquisition of mueller electric company, inc.
On April 4, 2011, Desco Corporation acquired the assets of Mueller Electric Company, a manufacturer and distributor of test leads, cable assemblies, clips, connectors, and accessories used primarily in the electronic test & measurement markets. The transaction was an all-cash deal, closing one week after Desco’s winning bid was accepted.
Mueller Electric was founded in 1908 by Ralph S. Mueller of Cleveland, Ohio. Mueller is best known as the inventor of the “Alligator Clip”. The company holds numerous patents on test clips and other devices. Mueller Electric has grown its business internally and by acquisition (J.S. Popper, Crane Connectors). Clips, test leads, jacks, plugs, cable assemblies, terminals, connectors, and custom products/assemblies make up the current product offering. Mueller sells to national electronics distributors, OEMs, and authorized resellers.
Cliff Prosek, General Manager of Mueller notes: “Desco is moving very quickly to increase inventory levels and add engineering and sales resources. Our customers will see the benefits from these actions in short order. We’re quite enthusiastic about our future and what we can become.”
Desco Corporation is a privately-held company headquartered in Columbus, Ohio. Since 1966, Desco’s team of executives and professionals have been acquiring and operating industrial businesses in the U.S., Europe and Asia with revenues of up to $150 million each. Over this 40+ year span, Desco has compiled a long and successful track record of developing and growing a variety of businesses. Currently, Desco owns eight separate middle-market industrial businesses serving a variety of end markets. Desco has a debt-free balance sheet with a very strong cash position.