The transaction is expected to close during December. Micro Power was advised on the transaction by XMS Capital Partners.
Micro Power supplies custom battery systems to the portable medical, automatic data collection, military and commercial markets. As a pioneer in the development of Lithium battery systems, smart battery packs, chargers, docking stations, and power supplies, Micro Power has more than 25 years of experience developing battery solutions with its domestic and Asian production facilities. Micro Power is ISO 13485 and 9001:2008 certified.
Electrochem, founded in 1979, is a world leader in the design and manufacture of custom battery and wireless sensing technology solutions. Electrochem is known for its reliable products which are used across a range of applications in the portable medical, energy, military, aerospace, environmental and process control industries. Greatbatch, Electrochems parent, provides top-quality technologies to industries that depend on reliable, long-lasting performance through its brands Greatbatch Medical, Electrochem and QiG Group.
"Micro Power provides an excellent complement to the existing products and services offered by Greatbatch," said Mike DuBose, chairman and CEO of Micro Power. "Our customer base along with our tremendous employees and high quality products align closely with the Electrochem product portfolio and vision."
"We thank the talented Micro Power employees for their dedicated service and wish them the best of luck in capitalizing on future growth opportunities as a part of Greatbatch," said Scott Bell, a partner at Weston Presidio.
About Micro Power Electronics, Inc.
Micro Power Electronics, Inc. is ISO 13485 and 9001:2008 certified, as well as ITAR registered. Micro Power supplies custom battery systems to the portable medical, handheld Automatic Identification and Data Collection (AIDC) and commercial military markets. As a pioneer in the development of Lithium battery systems, smart battery packs, chargers power supplies and docking stations, Micro Power has more than 25 years of experience developing battery solutions. With a proven track record of technical excellence, quality solutions and award-winning service, Micro Power has become the fastest growing supplier of custom battery systems in North America. For more information, please visit www.micro-power.com or call 800-576-6177.
About Weston Presidio
Weston Presidio is a leading private equity firm focused on growth companies primarily in the consumer, business services and industrial growth sectors. Since its founding in 1991, Weston Presidio has managed five investment funds aggregating over $3.3 billion. The Weston Presidio team has helped identify, build and maximize value in over 100 leading growth companies. For more information, please visit www.westonpresidio.com.
Posted by Sean Fenske, Editor-in-Chief, MDT