ChargeTech Enterprises designs, manufactures and distributes mobile charging products to customers around the globe. Founded in 2011, ChargeTech successfully grew into a market leader in both consumer products and business solutions, with leading companies like Marriott, Nordstrom, McDonalds, and hundreds of hospitals, car dealerships, schools, amusement parks, and trade show clients utilizing ChargeTech’s charging stations on properties throughout the world.
In 2016, Andesite was approached by the owner of ChargeTech who was seeking to diversify his asset portfolio, comprised primarily of his ownership in the company, as well as a partner who could help the company implement strategic and operational growth initiatives.
ChargeTech’s business is driven by the increasing use of mobile products around the globe. Whether it is a phone, tablet, laptop, or electric vehicle, the ability to re-charge battery powered products is vastly more needed than ever before. ChargeTech’s market leadership has positioned it to capitalize on the use of battery powered devices, and we believe the future will be increasingly reliant on batteries to power our lives. In addition to the high growth product niche in which ChargeTech operates, ChargeTech has demonstrated strong product demand, attractive gross and net profit margins, and a solid management team, all of which align for an excellent potential investment return.
Andesite invested in and became a partner in ChargeTech in April 2016. An active participant in the board of directors, Andesite is not only a financial investor in the company, but also contributed management resources to help ChargeTech organize, develop strategy and recruit key talent. Kevin Mitchell, Managing Director of Andesite Capital Management, is currently “on loan” to the company, acting President of ChargeTech as it positions itself for scalable growth in the coming years.