November 6, 2018
KPS Capital Partners, LP announced today that its portfolio company C&D Technologies, Inc. has agreed to acquire Trojan Battery Company, LLC from Charlesbank Capital Partners, LLC.
C&D’s acquisition of Trojan combines two leading specialty battery manufacturers in the industrial, renewable energy and specialty motive markets.
“KPS acquired C&D to serve as a platform in the global energy storage industry, and the industrial logic of combining C&D and Trojan is extremely compelling,” said David Shapior, managing partner of KPS. “Trojan is an iconic brand name and we look forward to accelerating its growth by leveraging C&D’s global reach and strong technological capabilities. We look forward to working closely with the management team and employees of C&D and Trojan to build the global leader in the energy storage industry.”
The combined company will be a global technology leader in the battery industry, with over $1 billion of revenue, and the ability to provide a wide portfolio of high quality energy storage solutions to meet the growing needs of customers around the world. The company will have eight manufacturing facilities in the United States (California, Georgia, Indiana and Wisconsin), Mexico and China; a joint venture operation in China; two advanced research and development centres dedicated exclusively to deep-cycle battery technologies; and international offices located in Europe, the United Arab Emirates and Asia.
“This is a historic moment for both C&D and Trojan and I look forward to leading the new company into the future,” said Armand Lauzon, CEO of C&D. “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.
“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.”