Schumacher Electric Corporation Announces Ripple Industries as New Investment Partner
Schumacher Electric Corporation, a global leader in the design, manufacture and distribution of power conversion products, today announced Lincolnshire Management, Inc., a private equity firm focused on investing in and acquiring growing middle market companies, has completed the sale of Schumacher Electric to private investment firm Ripple Industries LLC. Financial terms of the transaction were not disclosed. The announcement was made via a live stream all-employee meeting where Mickey Leech, CEO of Schumacher Electric, also, reflected on major company milestones.
“Schumacher Electric is celebrating 75 years of power innovation. Major milestones provide us with the opportunity to pause, reflect and appreciate our past,” said Leech. “Much has changed since 1947, from our products and technologies to our people and processes. Schumacher was born out of a family legacy focused on power, performance, and innovation. The last few years have been marked by unprecedented challenges that have impacted everyone – from the professional to personal – on many levels. And yet, despite these challenges, the Schumacher team has continually risen to the occasion.”
Leech went on to review some of Schumacher’s most recent accomplishments:
- The global launch of a new line of Rugged™ Lithium Jump Starters
- The launch of the new Ultracap Battery Charger and Engine Starter
- The addition of Level 2 EV Wall Chargers to the global Schumacher EV Series™ debuting in June
- Meaningful growth in the e-commerce space across a range of marketplace and retail platforms
- The availability of Schumacher products across a wide breadth of channels that represent more than 60,000 brick-and-mortar distribution points from the leading big box to home improvement, specialty and hardware locations
“Even with these amazing accomplishments, we want to take this time to continue to re-imagine our future and what we want Schumacher Electric to look like in the next five, ten, 25 years and beyond,” said Leech. “Lincolnshire was instrumental in helping formulate the strategies that drove our successful high growth initiatives including our EV Series™ and e-commerce; now our leadership team is ready to lean in with Ripple Industries and continue that trajectory.”
William Bishop of Ripple Industries noted, “The Schumacher brand is synonymous with innovation and enhancing battery life; we share management’s vision of the big opportunities ahead as global transportation needs evolve and put greater demands on holistic power conversion solutions including battery maintenance and charging. We will move aggressively with Mickey and the entire Schumacher team to capitalize on these exciting growth opportunities.”
About Schumacher Electric Corporation
Schumacher Electric Corporation is known for industry-leading patented technologies, an unwavering commitment to quality, and providing feature-rich products that represent a remarkable value and price. Since 1947 Schumacher has been powering lifestyles with a legacy centered on delivering product excellence and exceptional service to a broad range of customer needs and experience levels. Celebrating 75 years of power conversion innovation - put your trust in a Schumacher.
To learn more visit: www.schumacherelectric.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Innovative AI software for the detection of pancreatic diseases: first-in-human application successful16.5.2022 14:21:00 CEST | Press release
Diseases of the pancreas can have serious consequences for patients and are difficult to diagnose. Early detection is crucial for the patient's chance of survival. In Europe today, more than 90 percent of patients die of pancreatic cancer within the first five years after diagnosis. The Medi-Globe Group, a leading international MedTech company based in Achenmühle, Bavaria, will, in cooperation with the French Institut Hospitalo-Universitaire (IHU) Strasbourg, develop the world's first AI software for the detection of diseases of the pancreas in endoscopic ultrasound (EUS) examination. The key technology here is artificial intelligence. As part of large-scale clinical studies prior to market introduction, the AI software has now gone into clinical test with patients, so-called first-in-human applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005559/en/ The new AI software has the potential to revolutionize t
Sofinnova Partners and Apollo Form Strategic Partnership in Life Sciences16.5.2022 14:00:00 CEST | Press release
Apollo (NYSE: APO) and Sofinnova Partners (“Sofinnova"), a leading European life sciences venture capital firm based in Paris, London, and Milan, today announced a long-term strategic and financial partnership. Under the agreement, Apollo will take a minority equity interest in Sofinnova and commit up to €1 billion of managed capital to its investment funds. This strategic partnership is poised to significantly accelerate Sofinnova’s growth. For Apollo, the investment will meaningfully increase its presence in life sciences and contribute to its growth ecosystem of partners that bring specialized knowledge and networks to its integrated platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005254/en/ Together, Sofinnova and Apollo will offer entrepreneurs a more comprehensive range of capital solutions to help bring new therapeutic and biotechnology-based solutions to the market. The commitment to invest up to €1 bi
KAUST Spins-in Five Cutting-Edge International Startups and Brings New Tech to Saudi Arabia16.5.2022 13:42:00 CEST | Press release
King Abdullah University of Science and Technology (KAUST) has recently wrapped up 'Destination Deep Tech,' a Saudi-first program that spins in leading-edge global startups to the Kingdom to develop deep tech innovations. The international startups - CeEntek, Hopu, Insignes-Labs, Pasqal, and Proteinea - were chosen to experience the three-month program as a result of their highly advanced technology expansion into the MENA region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005518/en/ The founders of the 5 international startups CeEntek, Hopu, Insignes-Labs, Pasqal, and Proteinea at KAUST (Photo: AETOSWire) “KAUST is the Deep Tech Heart of the Saudi Economy, and so we are delighted to welcome these talented international startups to KAUST and the Kingdom as part of Destination Deep Tech,” said Dr. Kevin Cullen, Vice President of KAUST Innovation. Pasqal, from France, is a leading European Quantum Computing startup t
QCT Delivers on the 5G Promise with Innovative Edge Infrastructures and 5G Solutions16.5.2022 13:00:00 CEST | Press release
Quanta Cloud Technology (QCT), a leading data center hardware solution provider, today announced details around its participation at the Big 5G Event 2022, being held onsite from May 16 – May 18, at the Austin Convention Center in Austin, Texas. QCT will showcase 5G infrastructure and solution demos at Booth #300 for both public and private networks and share their latest insights at the event. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005006/en/ (Graphic: Business Wire) To support the ever-growing compute and networking needs at the telco edge, QCT showcases its latest QuantaEdge products and solutions powered by Intel Xeon-SP and Xeon-D processors, spanning carrier grade 5G systems, edge servers and radio units that are cloud native to deliver maximum deployment flexibility. QCT demo highlights include: QuantaEdge EGD33B-WT - a next-gen outdoor pole-mount edge server designed for vRAN/MEC use cases, featuring a
Solynta and Incotec Announce Partnership to Optimize Performance of Hybrid True Potato Seeds16.5.2022 12:00:00 CEST | Press release
Hybrid potato innovator Solynta and seed enhancement company Incotec have entered in a collaboration agreement. By combining forces, the group will bring world-class seed technology and elite genetics to potato farmers worldwide. Solynta is a Netherlands-based company using hybrid potato breeding to grow a more sustainable future. Solynta has developed a unique portfolio of hybrid potato varieties for farmers that are dependable, productive and resilient to climate change. Incotec, a global seed enhancement company, has developed technologies including a new pelletization method and seed priming formula specifically tailored for true potato seeds. This seed technology will allow Solynta’s true potato seeds to succeed in diverse growing environments. Johan Trouw, Solynta Supply Chain Director and co-founder, noted, “At Solynta, we believe that partnering with industry leaders like Incotec supports our mission of creating solutions for food and nutritional insecurity. Their expertise in
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom