Power-Sonic Announces Sale of Business to Blackbird Group LLC
SAN DIEGO, CALIFORNIA – November 21, 2017 – Power-Sonic announced that it has been acquired by Blackbird Group LLC. Blackbird, formed in 2008, is led by a team of senior operating executives with a long history of acquiring companies, managing them proactively, and driving long-term capital growth. Blackbird’s acquisition of Power-Sonic was supported by a one-stop financing provided by Prudential Capital Group.
Power-Sonic, headquartered in San Diego, California, has three operating platforms: Power-Sonic Battery, an ISO 9001 certified provider of high quality battery and power supply solutions with more than 47 years of experience, operates in over 70 countries worldwide, with locations in the US, Mexico, UK and France. The business unit is a leading provider of rechargeable battery technologies including sealed lead acid (SLA), Lithium Iron Phosphate (LiFeP04) NiCad, Nickel Metal Hydride (NiMH) and associated products and services. These technologies are marketed under the Power-Sonic and Powersport brands. Power-Sonic Injection Molding with over 20 years in the plastic injection molding industry with ISO9001 and TS16949 certified operating locations in Tijuana and Juarez, Mexico, provides expert plastic injection molding services to a wide variety of industries. Concise Fabrication, founded in 1974, was acquired by Blackbird in 2011, is ISO9001, CWB weld and UL 1000 hour salt fog certified and provides custom precision sheet metal fabrication, finishing and assembly services, operating from Tucson, Arizona and Nogales, Mexico.
“The Blackbird leadership team adds deep and very relevant senior leadership skills who will work seamlessly with the Power-Sonic customers, suppliers and employees,” Guy Clum, founder and retiring CEO of Power-Sonic remarked.
Jim Mannebach, Managing Member of Blackbird and new CEO of Power-Sonic, commented, “It’s a privilege to assume the leadership of Power-Sonic. The company the Power-Sonic team has built over more than forty years is recognized throughout the world as a leader in the battery industry, providing unparalleled quality products and technical support. Power-Sonic Injection Molding and Concise Fabricators provide products and services of exceptional quality in the most demanding industries. The Blackbird leadership team looks forward to building from the tremendous heritage created by Mr. Clum’s leadership”
About Blackbird
Blackbird Group was formed in 2008 by a team of senior operating executives. With partners based in the United States, Europe, Australia and Israel, the firm has acquired multiple businesses in the manufacturing and distribution markets. Working with established company leadership, the Blackbird partners assume senior operating and executive roles in all portfolio companies, driving world class systems and processes designed to further market penetration and create enhanced capital value.
About Prudential Capital
Group Prudential Capital Group is an institutional investment business of PGIM, Inc., the asset management business of Prudential Financial, Inc (NYSE:PRU), and is one of the largest managers of private corporate investments globally, with nearly $82 billion of private placements, mezzanine and structured equity investments in more than 1,000 companies (as of September 30, 2017).
