Cascadia Capital Attracts Top Tier Financial Partner to Fuel a Leading Battery Systems Providers' National Expansion

Challenge

Micro Power Electronics is a leading developer of custom portable power systems for use in mission-critical mobile applications. As a pioneer in the development of Lithium battery systems and smart battery packs, Micro Power can meet even the most challenging power requirements. This expertise-coupled with its FDA registration-has catapulted the company to a leadership position in custom battery systems for the defibrillator market and has given it traction in other device markets such as portal medical, rugged handheld computing and field instruments. Poised for growth but hampered by its capital structure, the company asked Cascadia Capital to help it restructure its balance sheet, so that substantial operating profits were no longer being diverted to service debt, and to provide capital to fuel growth.

Solution

Cascadia Capital leveraged its capital markets relationships and industry expertise to evaluate potential financing alternatives and capital structures for Micro Power. Based on market feedback on Micro Power's business and market opportunity, Cascadia Capital recommended a capital restructuring that would enable the company to access growth capital.

Results

Working with the existing debt and equity holders, Cascadia Capital was able to develop a financial strategy that met the objectives of all involved while still providing Micro Power with the growth capital it needed. Cascadia Capital then identified the best investment partners, ultimately bringing in Sierra Ventures, a large venture firm with a deep expertise in the energy/power solutions sector, along with Silicon Valley Bank as new investors.