Acquisition Strengthens ICCNexergy’s Leadership Position in Rechargeable Power Systems
Enhances ICCNexergy’s Technology Leadership and Advances the Company’s Vision in the Medical Industries
WESTCHESTER, IL, – March 25, 2013 – ICCNexergy, Inc. (www.iccnexergy.com), a global leader in the design and manufacture of rechargeable power systems, announced the acquisition of Applied Power, Inc. (www.applied-power.com), a Brighton, MI based company that provides custom battery assemblies to medical device manufacturers as well as to the fast growing medical computer cart market. The move, effective immediately, creates the industry’s largest designer and manufacturer of rechargeable power systems.
Founded by Jim Alexander in 1974, Applied Power is a leading designer and manufacturer of primary and secondary battery assemblies serving attractive end markets, including the high-growth medical market. Applied Power has historically targeted non-consumer vertical markets including medical computer carts, non-invasive medical devices, instrumentation and defense. The combined entity will leverage key people, process and technology resources across ICCNexergy’s industry leading custom rechargeable power systems platform.
“This acquisition allows ICCNexergy to build upon its rechargeable system product platform, adding significant expertise and meaningful customer relationships in the medical computer cart market, which is a target vertical of the company. It’s great to have the Applied Power team on board.” said Stephen M. McClure, ICCNexergy’s President and CEO.
Applied Power, Inc. is a wholly owned subsidiary of ICCNexergy. Reporting to Stephen M. McClure, Jim Alexander has been appointed to the role of Chief Technology Officer (Applied Power, Inc.) and will be a key resource in the transition of knowledge and control as well as continuing to develop unique solutions for Applied Power’s customers. Ray LeBlanc, who joined Applied Power, Inc. in 2007, will serve as Vice President & General Manager (Applied Power, Inc.), responsible for maintaining relationships with key customers and overseeing the day-to-day operations of the Brighton, MI facility.
The acquisition of Applied Power gives ICCNexergy an immediate presence in the medical computer cart market and complements ICCNexergy’s position as the industry’s leading developer and manufacturer of custom rechargeable power systems.
About Applied Power
The company was formed in 1974 for the purpose of providing custom battery assemblies and medical computer cart market oriented electronic components to customers that are in the business of designing portable and back up devices, headquartered in Brighton, MI.
Applied Power, Inc. is proud to be involved with the leaders in battery and power technology. The company strives to offer customers the very latest in technology and assembly methods in order for them to be successful in their respective markets.
About ICCNexergy, Inc.
ICCNexergy, Inc. is a privately held global developer and manufacturer of innovative power solutions. With more than 45 years of operational excellence, the company continues to lead the industry with expertise in designing and manufacturing custom rechargeable power systems including: Lithium-ion battery packs, battery chargers, docking stations, and highly efficient power supplies. Its partners include major OEMs in the medical, data server/storage, prosumer electronics, safety/security, data acquisition, and military/aerospace industries.
ICCNexergy owns and operates three state of the art production facilities strategically positioned to provide cost effective, high volume production. With approximately 300,000 square feet of wholly owned manufacturing space and a full suite of in-house design, tooling, and test capabilities, ICCNexergy is capable of managing complex programs from design through production around the world. Each facility is ISO 9001:2008, ISO 13485 certified and produces products that are EISA, ROHS, and CEC compliant.
ICCNexergy is part of the Inverness Graham Investments portfolio of companies.
About Inverness Graham Investments
Inverness Graham Investments is an operationally focused, lower middle market private equity firm headquartered in suburban Philadelphia. Inverness Graham acquires high growth, value-added manufacturing and service companies and was founded by senior executives of the Graham Group. The Graham Group’s three legacy industrial businesses operate in more than 90 locations worldwide, and its investment entities manage over $3 billion in investment capital. Inverness Graham continues the Graham Group’s tradition of leveraging innovation and technology to build differentiated businesses of enduring value.
For more information, please visit www.invernessgraham.com.
For information on the expanding ICCNexergy portfolio and medical computer cart solutions, please visit www.iccnexergy.com.
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