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Tuesday, May 05, 2015

HMB Helps ICCNexergy & Palladium Merge to Form One of the World's Largest Portable Power Solutions Providers

May 05, 2015

DENVER--KRG Capital Partners ("KRG") announced today that it has acquired Palladium Energy, Inc. ("Palladium"), an industry leader in customized power solutions. This marks KRG's second investment in its portable power solutions buy-and-build strategy, which began in 2014 with the acquisition of ICCNexergy, Inc. ("ICCN"), a global leader in the design and manufacture of rechargeable power systems. KRG has combined these two Chicago-based companies to create one of the world's largest portable power solutions providers. This newly formed company remains technology agnostic and continues building on its deep roots in four markets-commercial, industrial, medical and military/government. The company will be rebranded in the near future to leverage the combined rich history, markets and products delivered. Terms were not disclosed.

"The transaction will generate significant efficiencies, allowing us to better serve our customers. The merger with Palladium will add U.S.-based and China-based engineering groups to combine with ICCN's engineering team to better support customers' increasing global needs," said Ted Nark, Managing Director of KRG.

KRG and ICCNexergy were represented by Kirkland & Ellis and Horwood Marcus & Berk. Golub Capital acted as Administrative Agent, Sole Bookrunner and Co-Lead Arranger on the financing along with Ally Bank as Co-Lead Arranger and Syndication Agent and NewStar Financial, Inc. as Documentation Agent. Jefferies LLC acted as sole financial advisor to Palladium Energy.

To read more, visit Business Wire's website.

You can also read more on Palladium's website.

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