LOS ANGELES, July 28, 2009 – Marlin Equity Partners is pleased to announce the acquisition of the Battery Systems Business of Tyco Electronics Ltd. and has subsequently formed a new company, Palladium Energy (“Palladium” or “The Company”). Headquartered in Naperville, IL, the Company designs, manufactures and tests custom battery packs for use in portable electronics.
Palladium has integrated the existing management and staff while continuing operations with no disruption to customers and suppliers. Palladium focuses on fast-growing market segments in the battery systems industry that are incorporating the latest battery cell technology in personal electronic devices, including smart phones and personal navigation devices, medical devices for critical and non-critical monitoring applications and test & measurement equipment. The Company also provides large format batteries to replace legacy lead-acid batteries for data storage applications, such as RAID arrays and uninterruptible power supplies (UPS) for local area and wireless networks.
Palladium’s management team includes seasoned industry executives with expertise in materials science, electrochemical engineering and manufacturing, safety standards, cell chemistry research and large format battery technology. William Sanderson, formerly General Manager of the Battery Systems Business of Tyco Electronics, will continue with the newly formed company as President and General Manager. Mr. Sanderson has been in a leadership role within the Company since 2000, prior to its acquisition by Tyco International.
“The Company’s legacy represents a proud 35-year record of quality, safety and precision design for major worldwide OEMs,” said Mr. Sanderson. “With the backing of Marlin Equity, our team is excited to penetrate new markets across a broader field of applications. Palladium will extend its industry leadership as the design and manufacturing partner of choice for key suppliers of battery powered devices and equipment in a variety of industry segments.”
Bill Atkinson, Technology Operating Partner at Marlin Equity Partners, was named Chairman and CEO of Palladium Energy. Mr. Atkinson has more than 25 years of senior-level experience with diverse technology-based companies including VeriFone, Dun & Bradstreet, Vertel Corporation, Titan Corporation and Expertsoft. “Palladium now has the strategic focus and dedicated resources required to take advantage of the growing demand for battery power in mobile and stationary applications that are revolutionizing access to information and digital content,” said Mr. Atkinson.
Nick Kaiser, a Partner with Marlin Equity Partners, added, “as the trusted worldwide leader in the design and manufacture of custom battery packs and systems, this business is a tremendous asset that will thrive with the benefit of Marlin Equity’s resources and expertise. Palladium combines a global footprint with a customer-centric, localized manufacturing and support model that today’s device and equipment manufacturers require to ensure the greatest success.”
About Marlin Equity Partners
Marlin Equity Partners is a Los Angeles, California-based private investment firm focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs in special situations. Marlin Equity Partners invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational,financial or market-driven change where our capital base, industry relationships and extensive network of operational resources will significantly strengthen a company’s outlook and enhance value. Since 2005, Marlin Equity Partners, through its group of funds and related companies, has successfully completed over 25 acquisitions across a variety of industries. For more information, please visit www.marlinequity.com.
About Palladium Energy
Palladium Energy provides custom battery solutions for electronic devices and electrical equipment such as cell phones, personal navigation devices, medical devices and data storage equipment. With a 35-year history, Palladium Energy is an industry leader in the design and engineering of battery systems that optimize performance, dimension, size/weight, time-to-market and cost. Palladium has certified, independent, in-house testing facilities and operates on a global scale with facilities in the U.S., Brazil and China.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.com.