Nexergy and ElectriTek AVT Join Forces
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Nexergy, Inc., a leading designer and manufacturer of battery packs and chargers, announced today that it will combine the
operations of ElectriTek AVT and Nexergy into a single entity that will go to market under the Nexergy brand name. Late last year,
it was announced that Nexergy had concluded an equity recapitalization led by Inverness Capital Partners in which Inverness
became Nexergy's majority investor. Inverness Capital previously had taken a majority investment position in ElectriTek early in
2007.
Today, Nexergy CEO Phil Glandon announced the team of Executives that will manage Nexergy going forward:
Joe Dougherty, COO
John Stanton, CFO
John Costa, Executive Vice President
Randy Ibrahim, Vice President of Technology
Mark Magoon, National Sales Manager
"Each member of our executive team offers significant experience and unique talents that will help us deliver more value to our
customers," said Glandon. "This merger is especially exciting because it allows our company to immediately gain significant scale
in the battery and charger businesses."
"We will serve our customers far better by combining our collective resources." Glandon added. "With this combination, we have
achieved a leadership position in our business, with a very broad and enviable offering. We will become a stronger, more valuable
partner to our customers."
Nexergy's extensive manufacturing assets will bring tremendous capacity and responsiveness to its diverse customer base. With
300 associates and four production facilities in Columbus, OH, Littleton, CO, Canon City, CO, and Escondido, CA, Nexergy will
have the resources to respond to customer requirements for quality and rapid delivery times.
