A Toast! Employees Celebrate Integration of Nesscap Into Maxwell Technologies
May 22, 2017 | Jessica Baris, Communications Specialist and Copywriter
Nesscap employees in office locations in the U.S.,
Europe and Asia raised their glasses to toast the official union of their companies.
Custom Maxwell-Nesscap cakes were cut, and cider was served. The festivities provided our employees with an opportunity to celebrate a new global team and to hear from leadership about the significance of the integration of Nesscap into Maxwell Technologies.
"We are pleased to have brought the acquisition to completion and are excited to add Nesscap’s deep bench of talent to the Maxwell team," said Maxwell Technologies President and CEO Franz Fink. "I would like you to join me in welcoming our new team in Korea to the Maxwell family. This is a significant milestone and we have a bright future ahead of us."
Dr. Youngho Kim, CEO of
Nesscap, said, "We feel very proud to be a part of the Maxwell family and are so excited about sharing a vision for the future. We are poised to open new business opportunities with the advantage of offering the highest quality technology imaginable. I am confident this combination of two outstanding teams will enable us to innovate and deliver breakthrough products faster to markets and with a stronger manufacturing footprint."
The celebrations took place under the theme "One Team. One Passion." Megan Holeva, a Maxwell human resources assistant who helped organize the event, said that she looks forward to working with the expanded team.
"It’s really an exciting time," she said. "I enjoyed preparing the festivities and seeing the photos come in from all the offices with employees smiling as they toasted one another."
Hover over the photo to click through slide show:
NASDAQ displays a message on Times Square Tower to congratulate Maxwell Technologies for the acquisition.
More on the Acquisition
On April 28, Maxwell Technologies successfully completed its acquisition of substantially all of the assets and business, including the operating entities, of Nesscap Energy, Inc. As a market leader in innovative small cell format ultracapacitor products and technologies, Nesscap provides research,
development and manufacturing of energy storage and power delivery solutions that complement Maxwell’s large cell format ultracapacitor product portfolio, with operations in Korea, Germany, and China. Key benefits of the Maxwell- Nesscap merger include:
Expanded and solidified opportunity in wind, automotive, and industrial markets
In wind pitch control, the combination of the two companies creates a leading-edge product portfolio including a full range of competitive small cell and large cell offerings. With respect to the automotive market, Nesscap brings pre-existing design wins and
back-up power and extends Maxwell’s reach in the market. Moreover, small cell-based product solutions also broaden opportunities in the rapidly growing industrials market.
Accelerated innovation and product time to market with an expanded portfolio
Emerging from strong customer traction and product launches by both companies in 2016, the combination increases scale and leverages R&D to deliver additional new, differentiated products faster. The enhanced R&D team, along with a strengthened global sales channel, accelerates product, technology, and cost innovations into key markets.
Improved small-cell competitiveness through cost structure improvement
Margin expansion is
from economy of scale and materials cost savings, a streamlined supply chain, and gains in operational efficiency from combined manufacturing.
Accretive growth with positive financials and product/customer synergies
The transaction is expected to be accretive in Q2 and Maxwell expects the Nesscap business to deliver positive adjusted EBITDA in 2017.
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Communications Specialist and Copywriter
About this author
Jessica A. Baris is communications specialist and copywriter at Maxwell Technologies and enjoys telling a good story. Her background includes writing and editing for the high-tech, construction, and meetings and conventions industries. A San Diego native, Jessica earned a Master of Arts in rhetoric and writing from San Diego State University and a Bachelor of Arts in linguistics from the University of California, San Diego.
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