KRG Capital Partners has purchased ICCNexergy Inc.
Westchester, Ill.-based ICCNexergy develops and manufactures rechargeable power services, including lithium-ion battery packs, battery chargers and docking stations. Terms of the deal were not disclosed.
Denver private equity firm KRG bought the company from its fourth fund, which closed with $1.96 billion in March 2012. KRG says it expects ICCNexergy to grow organically and through acquisitions.
The firm has about $4.3 billion in capital under management. In March, KRG portfolio company Trafficware Group Inc. picked up PSI Acquisition LLC. In December, KRG-Backed Olson bought PulsePoint Group.
The company was sold by Inverness Graham Investments, a private equity firm headquartered in Newtown Square, Pa. The firm has about $250 million in assets under management.
John Neuner, Bob Baltimore, David Allebach and Josh Garner from Harris Williams & Co. advised ICCNexergy on the deal. Kirkland & Ellis LLP acted as legal counsel to KRG.