Inside INdiana Business

Kokomo battery manufacturer acquired by Boston equity firm

Kokomo-based Green Cubes Technology specializes in lithium ion battery systems. (photo courtesy: Indiana Economic Development Corp.)

KOKOMO, Ind. (Inside INdiana Business) — Green Cubes Technology Corp. has been acquired by a private equity firm headquartered in Boston. JMC Capital Partners did not immediately disclose financial details of the acquisition but says it plans to continue to shape Green Cubes’ growth strategy through strategic acquisitions and organic growth programs.

Kokomo-based Green Cubes designs and manufactures lithium-ion battery systems used in the industrial, medical and motive markets, such as industrial forklifts.

“Our growth and opportunities have been accelerating, with customers coming to Green Cubes to help them realize the financial, environmental and performance benefits that a lithium-ion power system can provide,” said Mohammed Alobaidi, chairman and chief strategy officer at Green Cubes.

Green Cubes manufactures battery systems for both original equipment manufacturers (OEMs) and end-users who are seeking rechargeable lithium-ion technology.

In addition to its Kokomo operations, the company has engineering and manufacturing facilities in Malaysia, India, and Taiwan.