ICCNexergy Announces Acquisition of Applied Power

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 industry leading 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 the industry's leading developer and manufacturer of custom rechargeable power systems.