Inverness Capital Partners Invest in Nexergy, Inc.November 1, 2007 COLUMBUS, OH (USA) – Nexergy, Inc., a leading designer and manufacturer of battery packs and chargers, announces that it has concluded an equity recapitalization led by Inverness Capital Partners. Inverness becomes Nexergy’s majority investor in a transaction, which provides liquidity for several of Nexergy's current owners and adds access to significant capital for expansion of the business. As part of the transaction, Inverness intends to combine Nexergy with ElectriTek AVT of Denver, CO, which Inverness acquired earlier in 2007, to create the pre-eminent custom battery and charger company in the US. The two companies will operate under the leadership of Nexergy CEO, Phil Glandon, who will name a transition team of key managers from both organizations. Nexergy will continue to operate out of its headquarters in Columbus, Ohio. “The Inverness investment is an indication of their belief in the strong position that Nexergy holds in the portable power industry and the outstanding growth prospects for us,” said Glandon. “Battery technology is clearly at the leading edge of innovation for the next generation of portable electronic products used in industrial, medical, and commercial applications. The Inverness investment and the merger with ElectriTek AVT will provide Nexergy with resources that will be critical to our ability to expand our lead in innovative battery design and manufacturing for our global customer base.” # # About Nexergy:
With more than 22 years of experience, Nexergy is a leading designer, integrator and manufacturer of battery packs and chargers that enable electronic products to be more dependable, smaller, lighter, and longer-running. About Inverness: Inverness Capital Partners is a $125M private equity fund based in suburban Philadelphia that makes control and non-control growth equity investments in innovative manufacturers and manufacturing technology providers. They partner with experienced operators, and provide the capital, industrial contacts, and guidance needed to drive and deliver superior shareholder returns. The fund is an investment affiliate of the privately held Graham Group of industrial and investment businesses. Graham’s three legacy industrial businesses operate in more than 90 locations worldwide with over $2.75B in combined revenues. Collectively, Graham Group investment entities manage approximately $2.25 billion in internal and third party investment capital. Inverness has also entered into strategic relationships with Air Products and Chemicals (NYSE: APD) and Bekaert (Brussels: BEKB) to invest in industrial businesses of mutual interest. For more information please visit www.invernesscap.com.
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