C&D Technologies to Acquire Trojan Battery

C&D Technologies, a portfolio company of KPS Capital Partners, agreed to acquire Trojan Battery Company LLC, Santa Fe Springs, California, from its current majority owner, an affiliate of Charlesbank Capital Partners.
 
This acquisition will combine two leading battery manufacturers with complementary product portfolios to create one of the largest energy storage providers with over $1 billion of revenue, eight manufacturing facilities, and a presence in every major region.

C&D, headquartered in Blue Bell, Pennsylvania, manufactures, engineers, supplies, and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power. The company is a leader in solutions and services for the utility, telecommunications, uninterruptible power supply, cable, broadband, and renewable energy markets.

The transaction is expected to close in approximately 60 days.
 
“Trojan Battery is an industry leader with a great heritage and an amazing team of employees,” said Neil Thomas, president and CEO of Trojan Battery. “I’m excited about the agreement with C&D and believe that it will secure the company’s future and position it for even greater success in the years ahead.”

The Godber family started Trojan Battery in 1925 and built it into a leading deep-cycle battery manufacturer.

“I am enthusiastic about the transaction that is taking place with KPS and C&D,” said Rick Godber, chairman of the board. “Although this will end 93 years of ownership in Trojan for the Godber family, we all look forward to watching the continued growth and success of the brand and its legacy.”

Thomas said this acquisition will bring positive change.

“The synergies between Trojan and C&D will create a global leader in energy storage solutions with two iconic brands, quality products, and the ability to supply advanced battery technologies to customers around the world,” he said.

Armand Lauzon, CEO of C&D, says the acquisition makes sense from a business standpoint.

“Given C&D and Trojan’s complementary portfolios of global manufacturing plants, markets, and products, this is a highly compelling combination with tremendous strategic value and an exciting multi-segment growth opportunity,” Lauzon said. “We are committed to preserving everything about C&D and Trojan that our respective loyal customers, suppliers, and employees have come to expect over the years, while also using our larger scale and resources to take advantage of many exciting new opportunities.”

Houlihan Lokey is serving as the lead financial adviser and Goodwin is serving as legal counsel to Trojan Battery for the transaction.
 
For more information, visit www.trojanbattery.com.