The Dewey Electronics Corporation Announces Asset Acquisition of INI Power
Dewey Electronics Corporation (OTC PINK:DEWY) announced the acquisition of the assets of INI Power, a top provider of small, multi-fuel generators for the US military, from Corbel Capital Partners.
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Rhea-AI Summary
Dewey Electronics Corporation (OTC PINK:DEWY) announced the acquisition of the assets of INI Power, a top provider of small, multi-fuel generators for the US military, from Corbel Capital Partners. INI Power's technology enables gasoline engines to utilize different fuels, enhancing versatility. Dewey plans to manufacture and sell INI's products, with the acquisition expected to boost revenues within 12 to 18 months. CEO John Dewey highlighted the alignment of INI's innovations with Dewey's military generator expertise, aiming to strengthen support for national security.
Positive
- Acquisition of INI Power expected to increase revenues in 12-18 months.
- INI Power's technology enhances product offerings in multi-fuel generators.
- Alignment with Dewey's existing military product expertise, likely improving market position.
Negative
- None.
Details
News Market Reaction – DEWY
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OAKLAND, NJ / ACCESSWIRE / October 9, 2020 / The Dewey Electronics Corporation (OTC PINK:DEWY) is pleased to announce the acquisition of substantially all of the assets of INI Power from Corbel Capital Partners. INI Power is the leading provider of small, quiet multi-fuel generators to the US military. INI's technology allows gasoline engines to operate on a variety of other fuels including diesel, propane, and kerosene. INI has sold and fielded thousands of their one, two and five kilowatt generators, along with other energy management and storage systems.
Dewey intends to manufacture, sell, and support INI's products. The acquisition is expected to be materially accretive to revenues in twelve to eighteen months.
"We are very excited about bringing INI Power's excellent light weight and quiet generators as well as their technology and patents into the Dewey Electronics family of systems," said John Dewey, President and CEO of Dewey Electronics. "INI Power's novel engine technology and power solution will fit well with Dewey's long history and experience in the military generator space. I believe this will be a tremendous benefit to our national security customers and to the men and women who use our products."
The McCamish Group consulted to Dewey on this acquisition.
About The Dewey Electronics Corporation
Founded in 1955, Dewey Electronics designs, manufactures, and integrates power generation, power distribution, power management, and energy storage components for mobile platforms and hybrid military systems for use in austere military environments. Research and development includes advanced control systems for generators, battery monitoring/charging, fuel cells and fuel reformers.
Corbel Capital Partners makes non-control investments in the form of privately-negotiated structured debt or equity securities in profitable, lower middle-market business. Corbel also offers strategic and operational support to help companies scale and increase profitability.
investorrelations@corbelcap.com
CONTACT:
The Dewey Electronics Corporation
Stacey Mischel 201-337-4700 x114
SOURCE: Dewey Electronics Corporation
View source version on accesswire.com:
https://www.accesswire.com/609882/The-Dewey-Electronics-Corporation-Announces-Asset-Acquisition-of-INI-Power
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