Key Takeaways
- • H.I.G. Capital completed the acquisition of Inventus Power from a private equity consortium led by KRG Capital Partners, marking a transition of ownership for the battery and power systems manufacturer.
- • Inventus Power operates four manufacturing facilities across the United States, Mexico, China, and Brazil, serving aerospace and defense, medical, industrial, and consumer sectors with lithium-ion battery packs, chargers, and power systems.
- • The company traces its PE history to KRG Capital's 2014 acquisition of ICCNexergy, followed by a 2015 merger with Palladium Energy; ownership later expanded to include Mountaingate Capital, formed by former KRG professionals.
- • H.I.G. Capital, founded in 1993 and headquartered in Miami, specializes in debt and equity investments in small and mid-market manufacturing and service businesses, with offices across seven major U.S. cities.
- • CEO Patrick Trippel emphasized the transaction validates the team's execution while H.I.G. managing director Peter Hart highlighted the company's positioning to capitalize on growing demand for advanced energy solutions.
Summary
H.I.G. Capital has closed its acquisition of Inventus Power, a manufacturer of battery and power systems, concluding the company's tenure under private equity ownership led by KRG Capital Partners. The transaction marks a strategic transition for a business that has grown substantially through a buy-and-build strategy spanning more than a decade.
Inventus Power designs and manufactures lithium-ion battery packs, chargers, and power systems for original equipment manufacturers across aerospace and defense, medical, industrial, and consumer segments. The company's product portfolio encompasses portable, motive, and stationary applications, including custom and standardized battery packs, charging systems, and power supplies engineered to meet specific performance and durability requirements. Founded in 1960 and headquartered in Woodridge, Illinois, Inventus operates manufacturing facilities in four countries: the United States, Mexico, China, and Brazil, providing global manufacturing reach and supply chain diversification.
The company's private equity ownership structure began in 2014 when KRG Capital acquired ICCNexergy from Inverness Graham. KRG subsequently acquired Palladium Energy in 2015 and integrated it into ICCNexergy as part of a portable power consolidation strategy, creating one of the world's largest portable power providers serving commercial, industrial, medical, and government markets. The combined entity was rebranded as Inventus Power later that year. Over time, ownership expanded beyond KRG to include additional investors, notably Mountaingate Capital, established in 2016 by former KRG professionals.
H.I.G. Capital, a Miami-based investment firm founded in 1993, specializes in providing debt and equity capital to small and mid-market companies through management buyouts, recapitalizations, and corporate carve-outs. The firm maintains offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta, with a focus on profitable and underperforming manufacturing and service businesses. Patrick Trippel, Inventus Power's CEO, stated the partnership with H.I.G. supports the company's strategy to become a leading global advanced battery systems provider, while Peter Hart, H.I.G. managing director, emphasized the company's positioning to capitalize on growing demand for advanced energy solutions under H.I.G.'s support.
Inventus Power designs and manufactures lithium-ion battery packs, chargers, and power systems for original equipment manufacturers across aerospace and defense, medical, industrial, and consumer segments. The company's product portfolio encompasses portable, motive, and stationary applications, including custom and standardized battery packs, charging systems, and power supplies engineered to meet specific performance and durability requirements. Founded in 1960 and headquartered in Woodridge, Illinois, Inventus operates manufacturing facilities in four countries: the United States, Mexico, China, and Brazil, providing global manufacturing reach and supply chain diversification.
The company's private equity ownership structure began in 2014 when KRG Capital acquired ICCNexergy from Inverness Graham. KRG subsequently acquired Palladium Energy in 2015 and integrated it into ICCNexergy as part of a portable power consolidation strategy, creating one of the world's largest portable power providers serving commercial, industrial, medical, and government markets. The combined entity was rebranded as Inventus Power later that year. Over time, ownership expanded beyond KRG to include additional investors, notably Mountaingate Capital, established in 2016 by former KRG professionals.
H.I.G. Capital, a Miami-based investment firm founded in 1993, specializes in providing debt and equity capital to small and mid-market companies through management buyouts, recapitalizations, and corporate carve-outs. The firm maintains offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta, with a focus on profitable and underperforming manufacturing and service businesses. Patrick Trippel, Inventus Power's CEO, stated the partnership with H.I.G. supports the company's strategy to become a leading global advanced battery systems provider, while Peter Hart, H.I.G. managing director, emphasized the company's positioning to capitalize on growing demand for advanced energy solutions under H.I.G.'s support.
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