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East Penn Expands Innovation Investment by Acquiring Majority Share of Navitas Systems

Posted By Marianna Lovo, Monday, August 19, 2019

East Penn is pleased to announce the acquisition of a majority interest in Navitas Systems.
Navitas Systems is a global leader in larger-format lithium battery technology and systems
for heavy-duty commercial/industrial as well as government/defense market segments.

The acquisition will accelerate East Penn’s expansion of its Motive Power battery offering,
as well as its strategic integration into other market segments. This exciting new venture
aligns with East Penn’s existing plans of providing the most robust array of optimized
energy storage system solutions. This will enhance the company’s efforts in completely
meeting the ever-expanding demands of its customers well into the future. Navitas products
will complement East Penn’s offerings, and its lithium Research and Development expertise
will add to East Penn’s current lithium R&D program.

“East Penn and Navitas share corporate values of quality, research and development, and
ethical integrity. Chairman and Founder, Alan ElShafei, has built a rich company culture at
Navitas very similar to ours here at East Penn. Navitas also shares our passion for
producing safe, high quality Lithium products,” said Chris Pruitt, East Penn CEO and
President. “We are happy to be joining in partnership with such a strong, well-established
company.”

Navitas Systems will continue to be run by their current management team, and both of
their research and manufacturing facilities will remain in Ann Arbor, MI.

“We are delighted to join in this major partnership with East Penn” said Alan ElShafei,
Chairman and Founder of Navitas Systems. “They have earned such tremendous loyalty
from customers and distributors alike, resulting from their caring culture, quality products,
and continued focus on innovation. We could not imagine a stronger company to partner
with, and we look forward to helping bring advanced lithium battery solutions in a
complementary fashion to the already innovative portfolio of battery products offered by
East Penn.”

East Penn’s commitment to innovations in lead batteries and other advancements in new
technology has availed the company unique opportunities in many new markets. The
company remains on the forefront of exploring the many possibilities of advanced battery
technology. While East Penn remains focused on manufacturing lead batteries and its
continued innovation, expanding its offerings will help meet broader customer demands as
well as enabling entry into new markets.

About East Penn Manufacturing:
East Penn is a privately-owned company operating the largest single-site battery
manufacturing facility in the world. As a leading global battery provider, the company makes
high quality lead batteries and accessories, as well as offers other energy storage and system
integration solutions, for the automotive, commercial, marine, motive power, UPS, and
telecommunication markets. The company’s quality and environmental systems for its entire
520-acre complex have been certified to ISO 9001:2008, IATF 16949:2016, and ISO
14001:2015 requirements. For more information, visit the company website at
www.dekabatteries.com.

About Navitas Systems:
Navitas Systems is a leader in integrated design, technology development, and manufacturing
of innovative energy-enabled system solutions and energy storage products for commercial,
industrial, and government agency customers. Navitas Systems products range from
customized energy storage solutions for motive, idle-reduction and defense related
applications, along with custom renewable energy integrated power systems. The company is
located in Ann Arbor Michigan, with both a 48,000 square foot R&D, Engineering, and
Manufacturing Center, as well as a new 100,000 square foot Starlifter lithium forklift battery
Manufacturing Center. From advanced R&D, safe/high energy cell design, in-house electronics
manufacturing and cable assemblies, to sophisticated battery pack assembly, Navitas is a
premier source for comprehensive energy and power electronics solutions. More information
on Navitas Systems is available at www.navitassys.com as well as Starlifter lithium forklift
battery information at www.lithiumforkliftpower.com. Follow us on LinkedIn at
www.linkedin.com/company/navitas-systems-llc.

Stifel acted as exclusive financial advisor to Navitas Systems LLC on the transaction.

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Lead Batteries A Model Of Circular Economy At D.C. Sustainability Summit

Posted By BCI Headquarters, Thursday, August 15, 2019

Decision-Makers Gather at U.S. Chamber of Commerce Foundation Event  to Share Sustainability Strategies Through 2030

WASHINGTON, August 15, 2019 – Today, leaders from the lead battery manufacturing and recycling industry shared its circular economy success with those attending the U.S. Chamber of Commerce Foundation’s 5th Annual Sustainability and Circular Economy Summit. Held in the nation’s capital, the two-day conference unites a cross-section of sustainability and circular economy professionals to educate one another on replicable, successful initiatives and benchmark strategies for impact through 2030 and beyond.

Highlighting this afternoon’s “Data for Good” session was discussion on the success of the lead battery industry’s circularity and commercial viability. Its closed-loop infrastructure results in a 99.3% recycling rate, use of 80% recycled materials, and “Most Recycled Consumer Product” recognition by the EPA.

During the session, Dr. Carole Mars, Director of Technical Development and Innovation for The Sustainability Consortium (TSC), spoke on making the lead battery industry a circular economy model for other sectors.

 

“Lead batteries close the loop more effectively than any other product in the consumer goods space,” Mars said. “We’d like to leverage the lessons of this industry to help others reach the same type of performance for their end-of-life products.” TSC’s mission is to help make consumer products worldwide more sustainable.

 

The circularity of a lead battery has global impact, as the demand grows for sustainable energy storage in the renewable energy, automotive and digital technology sectors. Wood Mackenzie’s Power & Renewables latest report projects that energy storage deployments will grow thirteen-fold over the next six years, concentrated in the U.S. and China. One goal of the U.S. lead battery industry is to ensure that environmental criteria of batteries be equal to, or greater than, performance and cost criteria when evaluating battery options.

Also participating in the “Data for Good” session were executives from East Penn Manufacturing and RSR Technologies. Their leaders explained the companys’ sustainable materials management.

“Lead batteries are designed from the outset to ensure recyclability,” said East Penn Manufacturing CEO/President Chris Pruitt. “At our Berks County Pennsylvania facility, we recycle nearly 30,000 lead batteries every day, and the materials are reused to make new batteries over and over again.” In the true spirit of a circular economy, new products are also created from the recycled materials. From the recovered sulfuric acid, East Penn annually sells 25,000 tons of liquid fertilizer solution as raw material to fertilizer manufacturers.

Dr. Mark Drezdzon is Vice President of Research and Development for RSR Technologies, a subsidiary of ECOBAT Technologies Ltd., one of the world’s largest producers and recyclers of lead. Drezdzon noted that performance advancements made in lead batteries over the past 20 years have not compromised the recyclability of the product.

“We continue to improve lead battery performance,” Drezdzon stated. “The industry is engaged in a project at the Department of Energy’s Argonne National Laboratory to do fundamental research using state-of-the-art analytical tools to study a 160-year-old technology.” Using Argonne’s Advanced Photon Source, a synchrotron which generates high energy X-rays capable of studying a lead battery as it operates in real time, DOE scientists are studying the structural and chemical changes in a lead battery during operation to foster further improvements in battery performance.

 

Learn More at Essential Energy Everyday 

Essential Energy Everyday exists to increase awareness of the critical importance of lead batteries in powering our daily lives and future. It encourages continued investment in sustainable lead battery technology to store and provide energy on demand. Its initiative is supported by the two global trade associations that represent the lead battery and lead industries, Battery Council International and the International Lead Association.

- 30 –

Note to editors: Photos available upon request to ldry@batterycouncil.org

Additional information on lead batteries and the circular economy including infographic.

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Doe Run Mine Rescue Team Earns Top Honor at Regional Contest

Posted By BCI Headquarters, Friday, June 21, 2019

In honor of National Safety Month in June, The Doe Run Company (Doe Run) recognizes the dedication of its skilled mine rescue teams. Doe Run’s Maroon mine rescue team won overall contest champion at the Southwest Regional Mine Rescue Contest.

In addition to winning the overall contest championship, the Maroon Team won second place in the field competition, which measures how well team members adhere to mine rescue procedures during a simulated mine emergency. They also took second place in team technician and third place in first aid. The Southwest Regional Mine Rescue Contest took place from April 8-11, 2019, in New Mexico.

“Doe Run came home with the most accomplishments of any team in the competition, and the competition was fierce – the last four national champion teams were among the teams competing in this year’s contest,” said Ryan Seelke, safety manager at Doe Run’s Southeast Missouri Mining and Milling Division (SEMO). “We’re very proud of the commitment of the team and their readiness in case of emergency.”

Doe Run’s mine rescue teams are critical for keeping employees safe in the event of an emergency. As part of the company’s underground safety program, mine rescue teams complete eight hours of training monthly. The teams compete in mine rescue competitions annually to keep their skills sharp and prepare them to help fellow miners in real-life situations. Companywide, Doe Run employees went through more than 30,000 hours of training in 2018, including extensive health and safety training. Employees also play an active role in sharing ideas and implementing new programs that address workplace safety.

In July, the Gray mine rescue team will be attending the Northern Regional Mine Rescue Competition in New York. In October, both the Maroon and Gray mine rescue teams will compete at the Missouri Mine Rescue Contest. Held in Rolla, Missouri, at the Missouri University of Science and Technology’s experimental mine, it is one of the most widely attended mine rescue contests in the nation.

About The Doe Run Company

Based in St. Louis, Missouri, USA, The Doe Run Company is a privately held natural resources company and a global provider of lead, copper and zinc concentrates. Dedicated to environmentally responsible mineral and metal production, Doe Run operates one of the world’s largest, single-site lead recycling centers, located in Boss, Missouri, and mines from one of the world’s largest lead mining districts, also in Missouri. The Doe Run Company and its subsidiaries deliver products and services necessary to provide power, protection and convenience. Doe Run has operations in Missouri, Washington and Arizona. For more information, visit www.doerun.com.

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Lead batteries poised to support electric vehicle charging stations

Posted By BCI Headquarters, Thursday, June 13, 2019

Plans to introduce lead battery-supported electric vehicle (EV) charging stations have moved a step closer thanks to funding through a competitive grant awarded by the U.S. state of Missouri, made possible by funds from the U.S. Department of Energy State Energy Program.

The competitive grant award by the state’s Division of Energy will support a Consortium for Battery Innovation (CBI) feasibility study that will investigate advanced lead battery energy storage deployed alongside EV charging points at Missouri gas stations.

The ground-breaking project could pave the way for a much wider roll-out of EV charging stations utilizing advanced lead battery technology.

CBI is now preparing to select the most appropriate gas station locations before conducting an in-depth feasibility analysis for at least two locations.

Dr. Alistair Davidson, CBI Director, said: “This project aims to demonstrate how advanced lead battery energy storage, linked to EV charging stations, can help manage electricity demand fluctuations and store electricity when it is less costly, before supplying it at a time when electric car drivers need to charge their vehicles. It highlights the important role lead batteries can play in assisting governments around the world to roll-out charging infrastructure and meet energy needs.

“This kind of innovation could result in a much faster and more effective roll-out of EV charging stations using tried and tested battery energy storage with lead batteries.”

The grant from Missouri will fund a detailed plan for the set-up and construction of EV charging stations with advanced lead storage at the selected demonstration sites. The detailed plans will identify potential funding sources to fully develop each site. These sites can then be used as a model for future lead battery-supported EV charging stations across the state.

CBI is aiming to establish the demonstration sites in the autumn of 2019. CBI is partnering with Paragon Business Solutions, Inc., a consultancy business located in Rolla, Missouri, to deliver the feasibility study.

Craig Redmon, Director of Missouri’s Division of Energy, said: “We are delighted to support this project through our innovative industry partnerships program, which aims to increase the awareness of, and experience with, marketable energy storage technologies that have the potential to contribute to meeting the state’s energy needs and economic development goals now and into the future.

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Students to Gain Valuable Experience in the Mining and Metals Industry

Posted By BCI Headquarters, Friday, May 31, 2019

There will be an estimated 3.5 million jobs in the fields of science, technology, engineering and math (STEM) by 2025. STEM skills are the foundation for many of the mining and metal production careers at The Doe Run Company (Doe Run). Doe Run’s internship program gives students hands-on training in STEM-related roles to help prepare them for future careers.

This summer, Doe Run welcomes six area students for the 2019 internship program. They will work in the engineering, metallurgy, maintenance and information technology (IT) departments at the Southeast Missouri Mining and Milling Division (SEMO) and Resource Recycling facility.

  • Haley Rehagen, a mechanical engineering student at Missouri University of Science and Technology (Missouri S&T), will work as a maintenance intern at Resource Recycling.
  • Susan Donaldson is a chemical engineering student at Missouri S&T. She will intern in the Resource Recycling metallurgy department.
  • Brent Aubuchon is a Missouri S&T mechanical engineering student. He will work as an industrial engineer intern at Resource Recycling.
  • Austin Arlt, a mining engineering student at Missouri S&T, will be rotating through several job areas at SEMO, including technical engineering, ore haulage management, practical ventilation, mine power, water drainage applications, and surveying.
  • Isaac Freeman is an undergraduate student at Missouri State University. He will be working in the IT department at SEMO.
  • Riley Mathes, a recent Lesterville R-IV High School graduate, will work in the SEMO IT department.

“The summer internship is a shared learning experience for both our interns and our team,” said Sharon Gietl, vice president – information technology and human resources at Doe Run. “We provide project assignments and hands-on learning opportunities for our interns and in turn we gain fresh perspectives and new insights into how they approach a project.”

Mining jobs in Missouri – including Doe Run’s – outperform average Missouri wages, paying an average of $67,919 (compared to an industry average of $47,810). The manufacturing industry, including Doe Run’s battery recycling plant, employs a total of 259,300 people in Missouri, paying an average of $68,738.

Along with internships, Doe Run supports students by partnering with local colleges, including Missouri S&T and Mineral Area College, to provide scholarships, field trips and equipment donations that will assist in training the future workforce.

About The Doe Run Company

Based in St. Louis, Missouri, USA, The Doe Run Company is a privately held natural resources company and a global provider of lead, copper and zinc concentrates. Dedicated to environmentally responsible mineral and metal production, Doe Run operates one of the world’s largest, single-site lead recycling centers, located in Boss, Missouri, and mines from one of the world’s largest lead mining districts, also in Missouri. The Doe Run Company and its subsidiaries deliver products and services necessary to provide power, protection and convenience. Doe Run has operations in Missouri, Washington and Arizona. For more information, visit www.doerun.com.

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Wisconsin’s Remy Battery Is Awarded $43MM Government Contract

Posted By BCI Headquarters, Thursday, May 23, 2019
Updated: Tuesday, May 28, 2019

Remy Battery Company, established in Milwaukee in 1931, was recently awarded a major contract with the US government.

Taking more than a year to secure, the Department of Defense (DoD) - Defense Logistics Agency offered Remy Company an “Indefinite Quantity Contract.” This means the DoD has agreed to purchase a maximum of 83,000 batteries a year for a base period of three years, plus 2 one-year option years.

Why Remy Battery?

One of the many reasons why Remy Battery was chosen for this government contract is due to their innovative packaging solution. Remy's FreshStart is a patented, dry-charged battery packaging and activation solution that eliminates the storage of excess chemicals, reduces hazmat shipping costs, and allows simple and mess-free battery activation by a single individual. Along with the dry-charged battery, FreshStart contains individually packaged portions of the electrolyte required for each battery cell.

"FreshStart is the all-in-one solution for those looking for the advantages of a dry-charged, lead-acid battery without the extra work to source battery electrolyte and dispose of any excess," Remy Battery President Michael Moeller said. "Our product solves a very real problem for the US military in a simple, hassle-free way. It is our hope that this government contract will help springboard the FreshStart packaging solution into the private sector for commercial and consumer applications.”

More About FreshStart

FreshStart efficient packaging frees up storage space with its reduced footprint, allowing more units on a pallet, and reducing shipping costs. The packaging can also be used to return-ship scrap batteries and empty electrolyte bottles for proper recycling. Everything the consumer needs to activate the battery is included in one package; minimize spills due to individual electrolyte bottles and snug funnel fit. Adding the electrolyte only when needed lengthens the shelf life and increases the performance of the battery.

BCI Innovation Award

In 2017, Remy Battery was also a finalist for the Battery Council International (BCI) “Sally Breidegam Miksiewicz Innovation Award” for FreshStart. The BCI honors industry thought leader Sally Breidegam Miksiewicz by presenting one company with the Innovation Award every year. This award celebrates innovation in services, equipment, products, and processes that advance the lead battery industry in which Remy Battery was a finalist and received an honorable mention.

BCI recognition, along with the guidance and assistance of Steve Makovec from the Wisconsin Procurement Institute (Wispro), a Procurement Technical Assistance Center (PTAC) Remy Battery came to the attention of the Department of Defense. The management at Remy recognizes Mr. Makovec for being instrumental in Remy Battery being awarded the contract.

New Department of Transportation Rules

In addition, soon after Remy Battery’s recognition on the Innovation Award, a Department of Transportation Pipeline and Hazardous Materials Safety Administration (PHMSA) rule was passed eliminating the permit requirements for shipping batteries packed with electrolyte. Companies will no longer need to regularly re-apply for a special permit to ship dry batteries packaged with electrolyte. The DOT permanently authorized the transportation of lead-acid batteries and packages of battery acid in the same shipment and eliminated regulations governing limited quantities. This ruling had given the FreshStart packaging and Remy Battery an added boost to honor the DoD’s contract more quickly and easily.

Today, Remy Battery has four locations: two in Milwaukee, Wisconsin, and two in Michigan’s Upper Peninsula. They continue to hire the most consistently knowledgeable, experienced, and service-oriented team of employees in the industry.

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Doe Run Welcomes Two New Leaders to its Executive Team

Posted By BCI Headquarters, Thursday, May 16, 2019
Updated: Tuesday, May 28, 2019

New Roles Include Vice President – Exploration, Research and Technical Development, and Vice President – Environmental Affairs

The Doe Run Company (Doe Run) is pleased to announce that John Uhrie, PE, Ph.D., QP, has joined the company as vice president – exploration, research and technical development. In addition, Michael Montgomery, previously senior counsel and director of regulatory affairs, has been promoted to vice president – environmental affairs.

“John is a recognized technical expert in both mining and minerals processing – two key business drivers for Doe Run, and we’re excited to tap his expertise in everything from metal recovery to geology to economic evaluations in order to uncover and advance new business opportunities,” said Jerry Pyatt, Doe Run president and CEO.

Dr. Uhrie brings 25 years of experience in the mining industry to his new role. Dr. Uhrie will lead the company’s efforts to advance new technologies and to identify and acquire mineral resources that can drive growth. He joins Doe Run from RPM Global, a leader in providing software solutions, advisory consulting and professional development solutions to the mining industry, and has previous global experience at Newmont Mining Corporation and Freeport McMoRan.

Dr. Uhrie is a distinguished member of the Society of Mining, Metallurgy and Exploration (SME) and serves on the SME’s Board of Directors. He is also a Qualified Professional through the Mining and Metallurgical Society of America. He holds two patents and is a Registered Professional Engineer (Mining and Minerals Processing).

Dr. Uhrie earned a bachelor’s degree in geological engineering from Michigan Technological University, a master’s in geology from the University of Wyoming, and a doctorate in metallurgical engineering from Michigan Technological University.

“We’re also pleased to welcome Michael Montgomery to the executive team,” said Pyatt. “Mike’s diverse background in both environmental regulations and compliance, coupled with his legal experience, will be key to fostering relationships with important stakeholders within our communities and regulatory agencies.”

For nearly a decade, Montgomery has supported Doe Run’s regulatory compliance efforts, starting as a senior attorney and rising to director of regulatory affairs before being named vice president. He will leverage a well-rounded perspective from past legal and engineering roles to help Doe Run meet its commitments to environmental stewardship and regulatory compliance.

Prior to joining Doe Run, Montgomery represented companies from various industrial sectors in remediation and regulatory compliance matters as outside counsel. Before attending law school, he worked as a field environmental specialist, environmental engineer and civil engineer.

Montgomery earned his law degree from Washington University in St. Louis, a master’s of science in environmental engineering from Lamar University, and a bachelor’s of science in civil engineering from the University of Missouri – Rolla (now Missouri University of Science and Technology).

About The Doe Run Company

Based in St. Louis, Missouri, USA, The Doe Run Company is a privately held natural resources company and a global provider of lead, copper and zinc concentrates. Dedicated to environmentally responsible mineral and metal production, Doe Run operates one of the world’s largest, single-site lead recycling centers, located in Boss, Missouri, and mines from one of the world’s largest lead mining districts, also in Missouri. The Doe Run Company and its subsidiaries deliver products and services necessary to provide power, protection and convenience. Doe Run has operations in Missouri, Washington and Arizona. For more information, visit www.doerun.com.

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RSR Technologies Receives 2019 Sally Breidegam Miksiewicz Innovation Award

Posted By BCI Headquarters, Monday, May 6, 2019

RSR Technologies, Inc. has been awarded the 2019 Sally Breidegam Miksiewicz Innovation Award. Battery Council International (BCI) annually presents this award to celebrate innovation in equipment, processes, services and products that advance the lead battery industry. The award was established to honor industry thought leader, Sally Breidegam Miksiewicz, former CEO of East Penn Manufacturing Co.

RSR Technologies' active R&D initiative in the secondary lead industry has produced a new alloy, SUPERSOFT-HYCYCLE, enabling lead batteries to function at 2x current standards. Use of the Advanced Photon Source at the Department of Energy's Argonne National Laboratory has helped verify this improvement. The alloy improves cycle life, dynamic charge acceptance and capacity.

"Battery Council International is pleased to have received 11 submissions for the Innovation Award," said Kevin Moran, executive vice president of BCI. "We are eager to see how these innovations will continue to impact the lead battery industry over time, and we are proud to celebrate these advancements annually with the Innovation Award."

Microporous and Narada received honorable mentions for their submissions.

To watch a video of each submission, including RSR Technologies', and to learn more about the Innovation Award, visit www.batterycouncil.org/InnovationAward.

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Earth Day: New Information Brief Offers Lead Battery Industry As Premier Example Of Circular Economy

Posted By BCI Headquarters, Monday, April 22, 2019
Updated: Wednesday, April 24, 2019

In conjunction with Earth Day, the lead battery industry has published a new information brief (found at EssentialEnergyEveryday.com) detailing how lead battery manufacturers and recyclers demonstrate leadership in implementing a circular economy. The lead battery industry is an innovator in the circular economy, and one of only 16% of U.S. industries that follows a make-use-recycle manufacturing business strategy. This circular approach means the lead industry is both protecting the environment and remaining commercially competitive in order to meet future energy needs.

"Our industry provides a circular economy model for batteries, as well as other industries," said Kevin Moran, executive vice president of Battery Council International (BCI). "Lead batteries are a model of a take-make-use-recycle and reuse closed-loop system, compared to other battery chemistries that follow a linear model of take, waste and dispose." Moran cited the nearly 100% recycling rate of lead batteries, and the fact that every battery is comprised of at least 80% recycled lead.

The information brief and accompanying infographic highlight the key benefits of the closed-loop system as promoting the sustainable management of our natural resources, moving us toward climate neutrality; protecting national security; and decoupling growth from the use of natural resources.

The document also describes how the lead battery industry is achieving circularity. For example, manufacturers and recyclers work together to design batteries to be efficiently recycled for reuse and remanufacture. They also deploy a sophisticated collection and transportation system to collect spent batteries for recycling and pick-up finished lead metal for manufacturing. Additionally, the industry employs sustainable manufacturing practices ranging from recycling millions of gallons of water for use in new batteries, and collecting and reusing storm water, to relying on solar installations to power facilities. In one instance, a new revenue stream has been created by producing a liquid fertilizer solution for agricultural use from the sulfur fumes created during recycling.

As a call to action, the brief asks decision makers to deeply consider a battery's life cycle environmental footprint when selecting a battery technology. Sustainable materials management in non-lead battery manufacturing requires a paradigm shift from a linear to a circular economic model with stakeholders. The lead battery industry is a model for all battery technologies, especially as the move to electrification and decarbonization intensifies.

Learn More at Essential Energy Everyday

Essential Energy Everyday exists to increase awareness of the critical importance of lead batteries in powering our daily lives. It encourages continued investment in sustainable lead battery technology to store and provide energy on demand. Its initiative is supported by the two global trade associations that represent the lead battery and lead industries, Battery Council International and the International Lead Association.

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Tulip and Richardson Merger Announcement

Posted By BCI Headquarters, Thursday, March 28, 2019

Richardson Molding, LLC (“Richardson”) and Tulip Molded Plastics Corporation (“Tulip”) announced today the merger of these two highly regarded plastic injection molding companies. The new organization is now named Tulip Richardson Manufacturing (“TRM”) and will be led by Craig Kellogg (CEO) and Steve Dyer (President).

Richardson and Tulip are leading manufacturers of proprietary and custom injection molding products serving the industrial lead-acid battery, automotive and consumer markets. Additionally, Tulip has a strong reputation as a manufacturer of lead terminals and reprocessed polypropylene. TRM’s manufacturing platform consists of four facilities strategically located in Columbus, IN, Philadelphia, MS, Niagara Falls, NY, and Milwaukee, WI with over 135 injection molding presses ranging from 10T to 1,100T. The locations of these facilities and complementary manufacturing capabilities will allow TRM to drive operating efficiencies and provide superior customer service.

The merger will enable TRM to leverage the strengths of each organization and add significant value as an integral part of its customers’ supply chains. Owner Resource Group LLC (“ORG”) and Saugatuck Capital Company (“Saugatuck”), the majority owners of TRM, will continue to invest in the business and will actively support management’s focus on product development, operational excellence and increased service levels across the organization.

“We are excited about our partnership with Tulip and Saugatuck and believe in the long-term growth potential of TRM,” said ORG Managing Director Brad Esson. “ORG looks forward to supporting the management team’s efforts to integrate the two businesses and realize the full potential of the combined organization.”

“Tulip and Richardson both have a long history of providing outstanding service to their customers and Saugatuck believes this customer service will only be further enhanced as a result of the merger. Our current and new customers will both benefit from the expanded footprint and strengthened capabilities,” said Saugatuck Managing Partner Stuart Hawley.

About Owner Resource Group, LLC

Owner Resource Group is an Austin, Texas based private investment firm founded to bring superior outcomes to privately held businesses. The company makes investments that enable business owners and management teams the ability to pursue their objectives and accelerate the growth of their companies in a disciplined manner. ORG appreciates an owner’s need for fairness, certainty, flexibility and confidentiality when considering a transaction. After a transaction, the ORG philosophy is to align our interests with management to support the existing culture and the continued growth. For further information regarding ORG and its investments, please visit www.orgroup.com.

About Saugatuck Capital Company

Founded in 1982, Saugatuck is a long-established private investment firm committed to leveraged recapitalizations and buyouts and growth equity investments in the lower, middle market. Sourcing investment opportunities through its wellestablished network, Saugatuck invests in service-intensive businesses demonstrating a proven ability to generate stable, growing cash flows where it has the requisite experience to drive accelerated portfolio company performance. For over three decades, the firm has been dedicated to the philosophy of hands-on value creation in which exceptional management teams, in partnership with Saugatuck’s capital and expertise, build companies of outstanding value. For further information regarding Saugatuck and its investments, please visit www.saugatuckcapital.com.

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