Electro was a leading North American specialty manufacturer of wire harnesses primarily for non-automotive vehicles and electrical equipment. The company had manufacturing operations in Canada and Mexico, and sold product to the North American operations of multi-national companies.
NewPoint was engaged by the owners of Electro to sell the business as the President and owner wished to retire.
NewPoint determined that the best buyer for the Company was the one who could provide global manufacturing to the multi-national customers of Electro and which did not have North American production. A worldwide search was undertaken resulting in a very small list of qualified buyers being approached. Competitive tension was created between bidders, ultimately resulting in a sale transaction to a Scandinavian company at a high price.