New Yorker, founded in 1948 and now based in Northvale, distributes electronic components to manufacturers and other businesses across the globe. This acquisition will bring with it the Texas company’s inventory of industrial parts used in everything from manufacturing to the aerospace industry.
The merger is part of a larger strategy by New Yorker to expand its business by acquiring complementary manufacturers and distributors. Barry Slivka, the company’s President, explained in a press release:
“We are actively identifying companies that fit our acquisition model and have in place the financial, strategic, and operational expertise to execute the purchase of those distributors who meet our criteria.”
New Yorker also recently announced a partnership with Knight Electronics, located in Dallas. Knight will serve as a franchised distributor for Orion Fans and Io Audio Technologies. The deals with the two Texas companies reflect an interest in growing the company’s reach and inventory using economies of scale to target a global customer base. Distribution companies like this typically serve other businesses and manufacturers, often using methods like brochure printing to make sales.
Ari Frankel, New Yorker’s CEO, hinted that more deals could be in the works, saying:
“We are looking forward to, and actively working to complete our next acquisition.”
The New Yorker Electronics acquisition of Omni Electronics took place in early October and was effective immediately.