KRG Capital Partners has completed the acquisition of ICC-Nexergy from Inverness Graham Investments. ICCNexergy is a provider of fully integrated, custom rechargeable power systems solutions.
KRG Capital Partners (“KRG”), a Denver-based private equity firm, announced today that it has completed the acquisition of ICC-Nexergy, Inc. (“ICCNexergy”) from Inverness Graham Investments. ICCNexergy is a leading provider of highly engineered, fully integrated, custom rechargeable power systems solutions for mission critical applications in multiple attractive end-markets. ICCNexergy is the fifteenth platform company for KRG’s $1.96 billion Fund IV.
“We are excited to partner with the KRG team, who share our commitment to outstanding customer service. With their support we have the ability to make investments that will further strengthen our capabilities and the value-added services we bring to our customers.”
“We are excited to partner with the ICCNexergy team to support the Company’s continued growth,” noted Stew Fisher, Managing Director of KRG Capital. “We believe that the ICCNexergy platform represents a compelling opportunity to invest in a differentiated and market-leading provider of rechargeable power systems. Under the exceptional guidance of its management team, ICCNexergy has established a clear leadership position in this growing industry.”
“Additionally, we believe the Company is well-positioned to accelerate its organic growth and pursue acquisitions that will further bolster its capabilities and geographic coverage,” stated Ted Nark, Managing Director of KRG Capital.
“Over the past ten years we have positioned the Company to provide customized solutions, combining an integrated offering of battery, charger and power supply to meet our customer’s unique requirements,” said Stephen McClure, CEO of ICCNexergy. “We are excited to partner with the KRG team, who share our commitment to outstanding customer service. With their support we have the ability to make investments that will further strengthen our capabilities and the value-added services we bring to our customers.”
KRG was represented by Kirkland & Ellis (legal) and Harris Williams represented ICCNexergy in the sale process.
About ICCN: Headquartered outside of Chicago, Illinois, ICCNexergy is the industry’s leading provider of fully integrated, custom engineered rechargeable power systems, focused on low to medium volume products for mission critical electronic applications. Driven by the continued proliferation of sophisticated technology devices requiring rechargeable batteries, specifically lithium-ion batteries, the rechargeable power systems market continues to expand rapidly to meet the needs of emerging device applications.
The Company designs and manufactures products across three major categories: Integrated Battery Solutions, Charger Solutions and Power Supplies. ICCNexergy’s combined capabilities address three of the industry’s primary needs: (i) a single-source for multiple power system needs with a core focus on lithium-ion technology; (ii) comprehensive in-house design and engineering capabilities to serve the increasingly complex needs of customers; and (iii) a fully integrated global footprint that offers customers the benefit of a well-managed supply chain for operations across the world. Approximately 95% of ICCNexergy’s products are customized, requiring a high degree of front-end design and engineering that is unmet by any competitor in the industry. ICCNexergy currently serves customers across highly diverse key end-markets, such as Medical, Data Collection and Communication, Data Server and Storage, Energy and Power, and Prosumer, each of whom partners with the Company and values its ability to consistently design and develop integrated custom solutions. More information on ICCNexergy is available at www.iccnexergy.com.
About KRG: Founded in 1996, KRG is a Denver-based private equity firm with $4.3 billion of capital either deployed or available for future investment, which includes approximately $1 billion deployed since inception on behalf of equity co-investors. KRG specializes in acquiring majority interests in middle-market companies and growing them into significantly larger enterprises through the combination of internal growth and selective strategic add-on acquisitions. KRG Capital seeks investment opportunities where we can partner with existing management teams that are committed to building a best-in-class industry leading companies. Since inception, KRG has invested in 46 platform companies and has completed 149 add-on acquisitions for those platforms.
KRG Capital Partners
Stew Fisher, 303-390-5001
Piotr Biezychudek, 303-390-5001