TriWest Capital-backed Lithion Power acquires Aved Electronics
Lithion Power Group, a portfolio company of TriWest Capital Partners, has acquired Aved Electronics, a North Billerica, Massachusetts-based battery pack manufacturing, cable and harness assembly and electro-mechanical box-build business. Terms weren't disclosed. Established in 1979, Aved primarily serves the medical, defence, robotics and communications industries in the United States. Lithion, a Calgary-based manufacturer of lithium cells and packs for use in the oil and gas drilling sector, said the acquisition expands its product offering and industry reach. Formerly known as HPC Energy Services, Lithion secured an investment in 2018 from TriWest, a Canadian mid-market private equity firm.
28 August 2019•4 mins read
