CHICAGO (PRWEB) November 19, 2012
Palladium Energy, Inc. (Palladium), a Marlin Equity Partners’ (Marlin) portfolio company and leading manufacturer of custom lithium-based battery packs and power supplies, announced today that it has completed the acquisition of MicroSun Technologies, LLC (MicroSun), an industry leader in customized power solutions. By joining forces with MicroSun, Palladium is now the largest independent battery pack integrator in the Americas and Europe, with a six-country global footprint, world-class design and manufacturing, as well as rapid prototype and response capabilities. Terms of the acquisition were not disclosed.
The acquisition significantly expands Palladium’s position in key markets such as medical, military, industrial, commercial and consumer electronics. In addition, Palladium’s intellectual property and technology position is strengthened through the addition of MicroSun’s Dismounted PowerTM platform architecture, delivering innovative safety, product life extension and ruggedized power solutions for mission critical applications.
“By blending Palladium and MicroSun’s technical expertise, supply partnerships, industry leading testing and qualification, and global lean manufacturing capabilities, we are confident that Palladium will lead the industry and challenge what’s possible when it comes to best-in-class custom power solutions,” said Bob Leggett, operating partner at Marlin.
Alan ElShafei, MicroSun’s founder and chief executive officer, is now a Palladium shareholder and will be added to the company’s board of directors.
“Since founding MicroSun in 2003, I’ve focused on strategically growing our team and product lines,” said ElShafei. “It’s with tremendous pride that we enter this acquisition with Palladium to increase our customer value, industry position, level of technological innovation and provide new opportunities for our associates.”
In addition, MicroSun’s president and chief operating officer, John Gatti, is taking the helm as president and chief executive officer of Palladium, effective immediately.
“We are excited to have Mr. Gatti’s proven strategic leadership and more than 25 years of aerospace and defense, engineering and technology, program management and enterprise integration experience from companies like BAE Systems and Raytheon,” said Leggett. “We welcome Mr. Gatti and the MicroSun team.”
Palladium's former president and chief executive officer, Art Salyer, will take on the role of chief advisor with the company to help support the business through this critical transition.
“Building Palladium’s leadership team, expanding our product mix and increasing revenue even during economic and supply chain downturns has been one of my greatest professional accomplishments,” said Salyer. “I’m confident that this great leadership team, with Mr. Gatti’s guidance, will continue to delight our customers and challenge the industry with cutting-edge technology into the future.”
“I am excited and welcome the opportunity to lead this powerful industry combination,” said Gatti. “We will work together as one team to deliver the best value and innovation for our customers to help them differentiate themselves in their markets.”
About Palladium Energy
Palladium Energy, founded in 1974, is a leading global provider of high-performance power solutions including custom battery packs, power supplies and electromechanical assemblies for a wide variety of markets including medical, military, commercial, industrial and consumer electronics.
With headquarters in Lisle, Ill. and manufacturing facilities in the United States, Brazil and China, Palladium combines decades of technology expertise with innovative and flexible engineering, testing and manufacturing capabilities to meet any power challenge. For more information visit http://www.palladiumenergy.com and follow @PalladiumEnergy on Twitter.
About MicroSun Technologies
MicroSun Technologies, founded in 2003, is headquartered in Woodridge, Ill. with design and manufacturing operations in the United States and Malaysia. MicroSun is an industry leader in innovative customized total power solutions for the medical, commercial/industrial and military markets.
About Marlin Equity Partners
Marlin Equity Partners is a Los Angeles, California-based private investment firm with over $1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin Equity Partners invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company's outlook and enhances value. Since its inception, Marlin Equity Partners, through its group of funds and related companies, has successfully completed over 60 acquisitions. For more information, please visit http://www.marlinequity.com.