Palladium Energy Inc., a Marlin Equity Partners' portfolio company, announced that it has completed the acquisition of MicroSun Technologies, LLC. 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 Power™ 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 shareholder of Palladium 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."
Former president and chief executive officer, Art Salyer, will take on the role of Palladium's chief advisor 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."
