Red Rocket Acquires India-based Power Supply Business
Red Rocket, Inc., a privately held company located in California, announced the purchase of the switching power supply business of Celetronix Power India Private Limited (CPIPL), a registered company in Mumbai, India, and an indirect wholly-owned subsidiary of Jabil Circuit, Inc. The acquisition by Red Rocket includes all of the capital stock of CPIPL, the product design and manufacturing operations in Mumbai, India, and also includes the global customer base, products, patents, brands and approximately 105 employees and approximately 550 contract personnel related to the business.
Red Rocket also takes ownership of the EOS brand of power supply products and related technology currently in use by over 3,000 customers worldwide. The EOS branded power supplies are claimed to be among the smallest and most efficient ac-dc power supplies available. The EOS brand of power supplies are tailored for data networking, telecommunications, industrial, audio/video and medical products where space is a premium and thermal management critical.
"We are excited to acquire this business and look forward with joy and enthusiasm to supporting our global blue chip customer base, empowering our strong sales channel and making this a rewarding workplace and career for our world class work-force," said James B. Schultz, Chairman and CEO of Red Rocket, Inc. "The Red Rocket team knows the power business and is dedicated to providing competitive advantage and sustained value to customers. This is our number one priority. Although new in name, Red Rocket is the re-energizing and transformation of an established 15 year old company. We are here to serve customers and grow the business, providing our channel and end users with industry leading design support, power products, services and continuity of supply."
Red Rocket states that it plans to invest in key areas of the business to include leveraging the design, manufacturing and service potential of the India facilities and expertise of employees. With approximately 100,000 square feet of manufacturing space and design facilities, the company claims that it is primed for expansion in valued-added design services, product support and repair services and out-source manufacturing for existing and new customers.
"India is a great location for us to design and manufacture electronic products and to expand our service offerings. It also harbors a rich pool of talented and educated people anxious to emerge on the global stage," said Sam Dixit, Red Rocket’s Chief Operating Officer and leader of the India team. "With rapidly expanding public and private investment, India is the ’new China’ for western design and product companies, rich with technical personnel and skilled production line, service and support people. Red Rocket is well positioned for serving existing customers and is primed for expansion."