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TTI’s Exponential Technology Group Announces Acquisition of BGM Electronic Services

Thursday, August 11, 2022

Fort Worth, TX – August 2022 BGM Electronic Services (BGM), a privately held Engineering Design Services firm based in Auburn Hills, Michigan was acquired by TTI’s Exponential Technology Group (XTG), a leading specialty distributor of electronic components.

BGM will continue to operate under the BGM brand name, and Terry Bishop, company founder, will remain in charge of the business as President, reporting to XTG President and TTI SVP Business Development, Michael Knight.

Commenting on the announcement, Knight said, “The acquisition of BGM is part of a larger business strategy to assist our customers with component selection and sourcing, product design, and the transition of the finished design into manufacturing. BGM joins two other electronic design service firms that are part of XTG - Connected Development headquartered in Cary, North Carolina, and Paragon Innovations headquartered in Richardson, Texas – and brings our collective hardware, software, and mechanical engineering headcount to over 80 people. As part of the TTI Family of Specialists, which includes Mouser Electronics, this group is attached to one of the largest inventories of electronic components on the planet. Once component vendors and part numbers have been selected, inventory is pipelined to support prototyping, pre-production, and even production builds, establishing a component supply chain for every project as early as possible in the product’s lifecycle. In a time like now with extended component lead times and chronic supply chain disruptions, this capability is a difference maker for our customers.”

Terry Bishop said “We know and work closely with the component specialists at TTI and their subsidiaries, Mouser Electronics and the Exponential Technology Group. They get us and we get their vision for the electronic component supply chain of the future. The synergies are exciting, and our entire team is thrilled to join this world-class organization. As part of a group owned and backed by Berkshire Hathaway, our ability to scale for our customers is set to go to a whole new level.”

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About Berkshire Hathaway

Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B. For more information about Berkshire Hathaway, visit www.BerkshireHathaway.com.

About BGM Electronic Services

Founded in 2017 by a team that has spent the past 30 years emersed in the industrial, medical, IoT and automotive electronics industries, the company has an impressive clientele and a track record of making complex designs and projects work. When called upon by General Motors during the height of the COVID pandemic to manage the entire electronics procurement and manufacturing of the GM/Ventec/US Government Ventilator Project, BGM delivered 390,000 electronic assemblies for 30,000 ventilators in just 150 days! This achievement was recognized by GM with the 2020 Supplier of the Year – Over Drive Achievement Award. For Fortune 100 companies to startups, BGM provides turn-key product development services and production solutions from inception to market launch, on time and on budget.  Learn more at www.bgm-es.com

About Exponential Technology Group

The Exponential Technology Group (XTG) was created to provide customers a specialty semiconductor supply chain option formed in the ethical and hardworking spirit they are accustomed to from TTI and its subsidiaries. XTG joins Mouser Electronics and Sager Electronics in the TTI Family of Specialists, giving purchasing communities and manufacturers a well-funded and well-known global distributor backed by the strength of TTI and Berkshire Hathaway. For more information about XTG, visit www.xponentialgroup.com.

About TTI, Inc.

TTI, Inc., a Berkshire Hathaway company, is an authorized, specialty distributor of electronic components. Founded in 1971, the emphasis on a broad and deep product portfolio, available-to-sell inventory and sophisticated supply chain programs have established TTI as a distributor of choice to manufacturers in the industrial, defense, aerospace, transportation, medical, and communications sectors worldwide. TTI and its wholly owned subsidiaries, the TTI Family of Companies, Mouser Electronics, Sager Electronics and TTI Semiconductor Group employ over 7,000 people in more than 133 locations throughout North America, South America, Europe, Asia and Africa. Globally, the company maintains over 2 million square feet of dedicated warehouse space housing over 850,000 component part numbers. For more information, visit www.tti.com.

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