WESTCHESTER, Ill., March 18, 2014 (GLOBE NEWSWIRE) -- ICCNEXERGY, Inc. (www.iccnexergy.com) a global leader in the design and manufacture of rechargeable power systems, today announced that it has partnered strategically with KRG Capital Partners ("KRG"), the Denver-based private equity firm with $1.96 billion of capital under management.
The investment provides additional financial capacity to ICCNexergy, further enabling the Company to respond to the needs of the ever-changing rechargeable industry. Partnering with KRG will allow ICCNexergy to continue to expand its market share and over all global solution delivery footprint.
Stephen M. McClure, CEO of ICCNexergy said, "KRG shares our vision and dedication by providing the additional resources that will allow ICCNexergy to build upon its rechargeable system product platform. We are pleased to work 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."
Recognizing the accelerating market trends of devices utilizing custom lithium-ion rechargeable power systems, ICCNexergy will continue to focus on expanding its design, engineering, and manufacturing capabilities. ICCNexergy has developed an industry leading capability to provide complete rechargeable systems through a strategy focused on organic development and acquisition. ICCNexergy's senior management team will remain in place to further expand the Company both organically as well as continuing to execute on its acquisition strategy.
"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."
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 310,000 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.
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 45 platform companies and has completed 149 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.
For information on the expanding ICCNexergy portfolio, please visit www.iccnexergy.com.