Inventus Power Changes Hands as H.I.G. Completes Acquisition

H.I.G. Capital has completed the acquisition of Inventus Power, a provider of battery and power systems, from a private equity ownership group led by KRG Capital Partners.

Inventus designs and manufactures lithium-ion battery packs, chargers, and power systems for OEMs in the aerospace and defense, medical, industrial, and consumer sectors. Its products support portable, motive, and stationary applications—including fleet equipment, medical devices, and industrial systems—and include custom and standardized battery packs, as well as charging systems and power supplies tailored to specific performance and durability requirements.

Inventus was founded in 1960 and is headquartered near Chicago in Woodridge, Illinois. The company operates four manufacturing facilities in the United States, Mexico, China, and Brazil.

“We are excited to partner with H.I.G. to further our ambitions of being a leading global provider of advanced battery systems,” said Patrick Trippel, the CEO of Inventus. “This is a testament to the hard work and dedication of our team, whose relentless focus and dedication has built the company into what it is today. We look forward to the next chapter alongside our partners at H.I.G.”

Inventus Power’s private equity history begins with KRG Capital’s 2014 acquisition of ICCNexergy from Inverness Graham. In 2015, KRG acquired Palladium Energy and merged it into ICCNexergy as part of a portable power solutions buy-and-build strategy, creating one of the world’s largest portable power providers serving commercial, industrial, medical, and government end markets. Later that year, the combined business was rebranded as Inventus Power. Over time, the company’s ownership broadened beyond KRG to include additional private equity investors.

“Inventus Power has built an impressive platform driven by innovation, quality, and deep customer partnerships,” said Peter Hart, a managing director at H.I.G. “We believe the company is well positioned to capitalize on growing demand for advanced energy solutions, and we are eager to support management in accelerating its strategic initiatives.”

Founded in 1993, H.I.G. specializes in providing debt and equity capital to small and medium-sized companies and invests in management buyouts, recapitalizations, and corporate carve-outs of both profitable and underperforming manufacturing and service businesses. The firm is headquartered in Miami, with additional offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta.