Universal Power Group Acquires Lithium-Ion Battery Pack Maker
Universal Power Group, Inc. announced that it has acquired for $3.3 million the assets and business of Progressive Technologies, Inc. (PTI), a North Carolina-based battery pack manufacturer specializing in lithium-ion battery packs, the fastest growing segment of the battery market.
PTI designs and builds lithium-ion and other custom battery products for specialized OEMs in the medical, technology, government and military markets. Its custom battery solutions are used in computers, camcorders, tools, medical equipment, military applications, metering, mining and handheld communications equipment. Committed to high quality standards, PTI operates a state-of-the-art production facility, and holds several ISO certifications required by medical and other specialized battery pack buyers.