News Article
Acquisition Strengthens ICCNexergy's Position in Rechargeable Power Systems
ICCNexergy, Inc, a designer and manufacturer of rechargeable power systems, has announced the acquisition of Applied Power, Inc., 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 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 a developer and manufacturer of custom rechargeable power systems.
