Harris Williams & Co. Advises ICCNexergy, Inc. in its Sale to KRG Capital Partners
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of ICCNexergy, Inc. (ICCNexergy), a global leader in the design and manufacture of rechargeable power systems, from Inverness Graham Investments (Inverness Graham) to KRG Capital Partners (KRG). Harris Williams & Co. acted as the exclusive advisor to ICCNexergy. The transaction closed on March 14, 2014 and was led by John Neuner, Bob Baltimore, David Allebach and Josh Garner from Harris Williams & Co.
“ICCNexergy has built an industry leading platform in the high growth lithium-ion rechargeable power systems space,” said John Neuner, a managing director at Harris Williams & Co. “Under Inverness Graham’s ownership, ICCNexergy transformed itself through acquisitions and a strong organic growth strategy to become a unique, single-source provider of customized, highly engineered power systems to a number of very attractive end markets that include medical, data server and storage, data collection and measurement, energy and power and prosumer.”
“Inverness Graham and the management team at ICCNexergy brought together two leading companies through the 2010 merger of ICC and Nexergy and did a tremendous job integrating the businesses to position ICCNexergy for strong growth in the future,” added Bob Baltimore, a managing director at Harris Williams & Co. “Since the merger, the company has continued to invest in expanding its capabilities and broadening an already talented management team to enhance its strong platform for future organic and acquisition growth.”
ICCNexergy is a global developer and manufacturer of innovative rechargeable 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 that integrate lithium-ion battery packs, battery chargers, docking stations and highly efficient power supplies to address the power needs of a range of sophisticated and demanding applications.
Headquartered in Newtown Square, PA, Inverness Graham is an operationally focused private investment firm with more than $250 million of assets under management. The firm acquires high growth, innovative manufacturing and services companies. Founded by senior executives of the Graham Group, a family owned multi-national industrial concern, Inverness Graham brings unparalleled resources developed over a 50 year operating history to support its portfolio companies. The firm partners with businesses to provide the financial and operational support necessary to accelerate growth while enabling owners to achieve their key liquidity objectives.
Founded in 1996, KRG is a Denver, CO 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. The firm 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 seeks investment opportunities where it can partner with existing management teams that are committed to building a best-in-class industry leading companies. Since inception, the firm has invested in 45 platform companies and has completed 149 add-on acquisitions for those platforms.