Sager Electronics, a leading North American distributor of interconnect, power and electromechanical components and provider of value-add solutions, has announced it has entered into a purchase agreement to acquire Technical Power Systems (TPS), a specialist in the production of custom battery assemblies headquartered in Lisle, Illinois.
Although not historically acquisitive, Sager – with its announcement it would acquire Norvell Electronics Inc., headquartered in Carrollton, Texas, in 2015 -- made its second acquisition in as many years. In June 2014, Sager Electronics acquired PowerGate LLC, a premier North American power specialist distributor. Sager has since staked out its ground in power, forming the specialized Sager Power Systems within the organization.
“Sager, through our specialized group Sager Power Systems, offers both off-the-shelf and customized value-add AC power and on-board DC power solutions," said Sager Electronics President Frank Flynn in a release. "Batteries and custom battery packs are a natural extension of our power offering, supporting our customers’ growing requirements for portable power. As a recognized specialist in custom battery assembly and battery pack design, Technical Power Systems bolsters our value as a technical specialist to our customers.”
“TPS places significant value on quality, service, and support. Respect for our long-term employees and customers are paramount to our operation,” explained Joe Giovanatto, President and Founder of Technical Power Systems. “My partners and I are thrilled to become part of an organization that shares our value system. It’s an exciting opportunity to join forces with an industry leading distributor committed to selling power solutions with the goal of pursuing the top power distribution and value add position in the market.
TPS offers solutions for lithium ion, lithium polymer, lithium primary, Li iron phosphate, nickel cadmium, nickel metal hydride, lead acid (AGM), and pure lead products. TPS also offers standard and custom-designed power supplies and chargers.
Lithium-ion batteries are expected to be the highest-growth opportunity in the battery market through 2024, driven by applications including electric vehicles, plug-in electric vehicles, storage and automobiles thus. Lithium-ion is expect to gain a majority share of the global battery market by 2024.
The market for lithium-ion battery is expected to grow at a CAGR of approximately 22 percent through 2024, according to Mordor Intelligence. The automobile industry dominated the market in 2018.
About Sager Electronics
Sager Electronics, a wholly owned subsidiary of TTI Inc., a Berkshire Hathaway Inc. company, is a North American distributor of Interconnect, Power and Electromechanical components from leading manufacturers worldwide and a provider of value-add solutions. Grounded in over 130 years of innovation and service, Sager Electronics provides customers and suppliers a unique combination of operational excellence and innovative business solutions through its Distributing Confidence® business model. Headquartered in Middleborough, MA, Sager Electronics operates a national network of field sales representatives and power systems sales engineers, strategically located service centers across North America, and a value-add Power Solutions Center located in Carrollton, TX. To learn more about Sager, visit www.sager.com.
About Technical Power Systems
Technical Power Systems (TPS) specializes in the manufacture of custom batteries for a wide range of markets including Industrial/Commercial, Medical, Military, Computer, and Test Equipment, using cells including Li Ion, Li Polymer, Li FePO4, Li Primary, SLA, NiMH, NiCd as well as newer emerging technologies. Founded in August of 2001 in Lisle, Illinois, TPS’s focus on quality has always been a key driver of the company’s business foundation and its philosophy. Quality combined with outstanding customer service, rapid product development and on time delivery are TPS’s primary metrics in determining true value. To learn more about Technical Power Systems, visit the TPS site at https://www.technicalpowersystems.com/.