WASHINGTON, November 21, 2024–(BUSINESS WIRE)–Woodson Equity announced today the acquisition of the assets of the First Source Electronics business from Commercial Vehicle Group (NASDAQ: CVGI).
First Source Electronics is a leading provider of automation solutions for warehouses, industrial sectors, and other critical industries. Trusted by global blue-chip corporations, First Source Electronics offers control panels, electro mechanical systems, and cable assemblies. First Source Electronics’ patented micro fulfillment offering, STACC, is revolutionizing warehouse automation, with its modular and scalable design, utilizing the latest in AI technology.
Subir Shah, Operations Executive at Woodson Equity stated, “We would like to welcome the First Source Electronics team to the Woodson family. We believe that, in addition to their high-quality products, the exceptional talent within First Source Electronics distinguishes us in the marketplace. Our focus is to double down on the company’s expertise while building lasting partnerships with our customers and empowering the next generation in our community for long term success.”
“The acquisition of CVG’s First Source Electronics business aligns with Woodson Equity’s strategic focus, reinforcing our firm’s expertise in corporate carveouts and our sector focus on industrial services,” said Joel Mathew, Head of Originations at Woodson Equity.
Woodson Equity and CVG are committed to a smooth transition for our customers, suppliers, and employees.
Zachary Turke, Co-Head of M&A and Peter Park, Partner, at Sheppard Mullin served as legal counsel to Woodson Equity on the transaction. Bengur Bryan & Co., Inc. acted as the exclusive financial advisor to CVG.
About First Source Electronics:
First Source Electronics is a leading provider of automation solutions for warehouses, industrial sectors, and other critical industries. Trusted by global blue-chip corporations, First Source Electronics offers control panels, electro mechanical systems, and cable assemblies. First Source Electronics’ patented micro fulfillment offering, STACC, recently unveiled at MODEX, is revolutionizing warehouse automation, with its modular and scalable design, utilizing the latest in AI technology. Our home page is www.fsellc.com.
About Woodson Equity:
Woodson Equity is a private investment firm based in Washington, D.C., with an office in Chicago, Illinois. We specialize in corporate carveouts and divestitures, focusing on businesses that have strong market positions, established customer relationships, and proven assets backed by skilled teams. As thesis-minded investors and purpose-driven operators, we are committed to empowering future generations in the communities we operate in. For more information about Woodson Equity, please visit www.woodsonequity.com.
About CVG:
At CVG, we deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about CVG and its products is available at www.cvgrp.com.
