Universal Power Group Acquires iTECH
Acquisition Adds Manufacturing of Performance-Critical Products, Opens New Markets
COPPELL, Texas, May 4, 2015 /PRNewswire/ -- Universal Power Group, Inc., a Texas-based supplier of batteries and related power accessories, and a third-party logistics provider, today announced the acquisition of California-based iTECH, a manufacturer of smart lithium-ion and other batteries, chargers, docking stations, vehicle cradles and power subsystems for the medical, safety and security, communications and handheld markets. iTECH has a long history of profitable operations.
Based in San Diego, California, iTECH maintains a state of the art manufacturing facility with robust in-house electrical and mechanical design and engineering team. Backed by two decades of expertise in developing portable power technology, iTECH provides innovative end-to-end product development, program management, testing, tooling, production and supply chain solutions. iTECH is ISO 9001:2008, ISO 13485:2003 certified and FDA Registered committed to delivering best in class solutions in demanding smart lithium-ion battery and power system environments where health, life, safety or significant revenue are dependent upon product reliability. The company's custom engineered products currently power performance critical applications from leading technology providers including longstanding relationships with Fortune 500 companies such as Honeywell, Qualcomm, Motorola, Medtronic and Danaher.
"iTECH is a leader in the development and manufacture of innovative power solutions, using an engineering-centric approach to provide clients with highly customized power management systems," said Ian Edmonds, President and CEO of UPG. "We believe there is great synergy between our two companies which, together with our ProTechnologies subsidiary, strengthens our position in the growing lithium-ion sector of the battery marketplace. This acquisition will provide UPG with additional manufacturing expertise and also significantly enhance our research and development capabilities. In return, UPG brings to iTECH operational and supply chain efficiencies, and access to its extensive sales channel network to accelerate business expansion."
Following the completion of the acquisition, the senior management team for iTECH will remain in place. iTECH will continue to operate independently, aside from opportunities to combine resources and share best practices.
"We are excited to join the UPG family, and looking forward to partnering with Ian and his team to explore opportunities to grow through this new combined company," stated Rod Bolton, President of iTECH. "I am confident that working together to share resources will strengthen both companies, providing opportunities to broaden our customer base and enhance our ability to offer our customers with innovative customized solutions."
About Universal Power Group, Inc.
Universal Power Group, Inc. is a leading supplier of batteries, power accessories, wire and cable products, and a provider of supply chain and other value-added services. UPG's product offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jumpstarters, 12-volt accessories, security and low voltage wire and cable products. UPG's supply chain services include procurement, warehousing, inventory management, distribution, fulfillment and value-added services such as battery replacement programs. UPG is ISO 9001:2008 certified. For more information, please visit the UPG website at www.upgi.com.
About iTECH
iTECH has been operating as an independent privately-held company since 1997, serving Fortune 500 companies as a manufacturer of market-leading portable power solutions to performance-critical industries. iTECH excels in providing innovative design and manufacture of smart lithium-ion batteries, chargers, docking stations and power sub-systems for performance critical applications in the handheld electronics, medical, intrinsic safety, industrial and communications markets. iTECH is ISO 9001:2008, ISO 13485:2003 certified and FDA Registered. For more information, please visit the iTECH website at www.itecheng.com.
About ProTechnologies
Established in 1985, PTI is a trusted custom battery pack manufacturer providing tailored power solutions across industries including medical, government/defense, aerospace, technology, security, hobby and specialized original equipment manufacturers. PTI is ISO 9001:2008 and ISO13485 certified, providing unsurpassed engineering expertise, from concept design through production. For more information, please visit www.protechnologies.com.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.
SOURCE Universal Power Group, Inc.
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