Sager Powers Forward with Acquisition of PowerGate
Sager Electronics, Inc. a wholly owned subsidiary of TTI Inc., a Berkshire Hathaway Inc. company, today announced that it has entered into a purchase agreement to acquire PowerGate LLC, a North American power specialist distributor headquartered in Santa Clara, California. Upon completion of the acquisition, Paul Christiansen, President of PowerGate, will join Sager Electronics as Vice President Supplier Marketing and Product Management for Power. Ed Kramar, currently Vice President PowerGate LLC, will remain with the organization in an advisory capacity for a period of time. The acquisition is subject to customary closing conditions. The transaction is expected to close by June 30, 2014.
Frank Flynn, President of Sager Electronics, stated â€œPowerGate is a recognized power specialist with concentration in select North American markets. This acquisition advances one of our growth strategies and strengthens our position in the market as a power specialist. Sager Electronics will preserve and build upon PowerGateâ€™s specialization by making significant investments in additional key markets and inventory in order to accelerate growth.â€
â€œWe are thrilled to become part of an organization that values and understands our business model,â€ said Paul Christiansen. â€œMy team and I are excited to join the Sager Electronics organization and have the opportunity to service more customers in power with leading edge technologies, technical sales expertise and field application engineering.â€