Deep-cycle energy storage system manufacturer Trojan Battery has been acquired by C&D Technologies, a reserve power equipment vendor.
The resultant company will have more than US$1 billion in revenue, eight manufacturing locations and a presence in every major region, according to a statement confirming the deal.
“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.
“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,” said Rick Godber, chairman of the Board.
The deal is expected to close in the next 60 days.
“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,” said Armand Lauzon, CEO, C&D. “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.”
Source- Energy Storage News