The McLean Group announced that it advised Elkridge-based First Source Electronics (FSE), a specialized provider of electronics manufacturing services (EMS) for military, industrial and transportation applications, on its sale to Commercial Vehicle Group (CVG), a supplier of electrical wire harnesses, seating systems and related products for the global commercial vehicle markets
FSE provides sophisticated manufacturing solutions for end-products that are often deployed in extreme environments and have a high cost of failure, such as high-performance assemblies for tactical military communications, industrial material handling systems and electronic braking systems for railway trains.
“This transaction highlights the attractive market opportunity that exists for well-positioned EMS providers,” said Greg Nossaman, senior managing director of The McLean Group. “OEMs increasingly rely on trusted EMS partners, making quality firms highly desirable to growing businesses such as CVG that can capitalize on economies of scale to accelerate growth.”
CVG, based in New Albany, Ohio, maintains operations in North America, Europe, Asia and Australia, and employs more than 8,300 employees worldwide and generated $897.74 million in revenue in 2018.