KRG Capital Partners (KRG) has completed the acquisition of ICC-Nexergy, Inc. 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 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."