Houlihan Lokey Advises Exide Technologies

Houlihan Lokey is pleased to announce that operating assets of Exide Technologies’ Americas business have been acquired by Battery BidCo LLC, an affiliate of Atlas Capital Resources III LP (Atlas), pursuant to Section 363 of the U.S. Bankruptcy Code. The transaction closed on August 25, 2020.

Exide Americas, headquartered in Milton, Georgia, was a leading provider of energy storage solutions for motive and stationary applications. The company had more than 130 years of experience manufacturing high-quality batteries that provide smart power solutions to keep people and industry moving every day. In addition, Exide Americas was one of the nation’s largest secondary recyclers of lead batteries, providing environmentally responsible recycling services to battery manufacturers. More than 16 million lead batteries were safely recycled each year, contributing to the sustainability of the lead battery industry. Atlas has acquired the operating assets of Exide Americas and launched two new companies: The battery production segment was launched as Stryten Manufacturing, and the recycling segment was launched independently as Element Resources.

Headquartered in Greenwich, Connecticut, and founded in 2002, Atlas and its affiliates own and operate 21 platform companies, which employ approximately 22,000 associates at more than 150 facilities worldwide. Atlas’ companies together generate more than $6 billion in revenues annually.

Houlihan Lokey served as financial advisor to the debtor and assisted in initiating, structuring, and negotiating the transaction on its behalf. This transaction underscores Houlihan Lokey’s long-standing reputation and credentials as a premier advisor to the energy storage and metals recycling sectors.