CHICAGO, IL and COLUMBUS, OH-Nexergy, Inca leading designer and manufacturer of custom battery packs, andInternational Components Corporation (ICC) a global developer and manufacturer of innovative rechargeable power systems for portable applications, today announced a definitive merger agreement. The move, effective immediately, creates the industry's largest designer and manufacturer of rechargeable power systems and will be recognized as the premier innovative partner in the industry.
This merger combines ICC's long history of innovation in the portable power industry and global manufacturing footprint with Nexergy's strength as a designer and manufacturer of battery packs. Together, the company will provide its expanded global customer base with totally integrated rechargeable power systems from the wall to the customer's device.
ICC's President and CEO Stephen McClure will serve as president and CEO for the newly combined entity. Sean Harrigan, currently Nexergy's CEO, will serve as chief strategy officer.
McClure noted that while the majority of competitors focus on a single rechargeable power component or capability, the combined ICC-Nexergy organization will be the only company able to offer its customers all the elements needed for a complete solution - battery pack, charger, docking station, and power supply.
"Overnight, we've created a true industry powerhouse with unmatched capabilities," McClure explained. "Our expanded design teams will have access to a broader array of innovation and patents to solve the most complex power problems. Our multi-continent manufacturing capabilities in North America and Asia provide unrivaled flexibility, responsiveness and global sourcing capability to deliver compelling advantages to our customers. As the industry's largest supplier, we'll possess far greater scale, financial leverage and purchasing power."
The combined organization will continue to operate under their existing identities and organizational structures for the next several months. The new company will focus on the medical, military, security, communications, data server and storage, handheld data, power tools and consumer electronics markets. Product lines for the two companies are highly complementary, providing customers with access to a broader array of products for rechargeable power systems: custom battery packs across a wide range of chemistries, custom charger solutions, custom docking stations, and AC/DC and DC/DC power supplies marketed under the Elpac Power Systems brand.
"This is an exciting development that will have significant benefits for both Nexergy and ICC customers," said Harrigan. "Combining the design and manufacturing operations of these two companies creates tremendous leverage for our customers by connecting them to far more innovation than if we operated separately. In addition, we're now capable of delivering faster speed-to-market with access to wholly-owned production facilities in the U.S., China and Mexico. Effective today, our new global footprint positions us as the preferred supplier, the easiest with which to do business from idea development through the delivery of finished product."
Each company will maintain their respective corporate offices, design centers, sales offices and manufacturing facilities, including ICC's Westchester, Illinois, corporate facilities and Nexergy's Columbus, OH, facility. The combined company will have more than 2000 employees spanning five countries. Together with their international multi-tiered sales channels, ICC and Nexergy will have presence wherever their customers do business.
"This is a truly unique merger in that we've combined the two most profitable, financially strong companies in our industry," noted McClure. "What we've created today in global presence, technology capability and financial leverage brings a competitive advantage to our customers and represents a tremendous opportunity for our employees."
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