Houlihan Lokey Advises Trojan Battery Holdings
Houlihan Lokey is pleased to announce the successful sale of Trojan Battery Holdings, LLC (Trojan), a portfolio company of Charlesbank Capital Partners (Charlesbank), to C&D Technologies, Inc. (C&D), a portfolio company of KPS Capital Partners (KPS). The transaction closed on December 20, 2018.
Founded in 1925, Trojan Battery is the world's leading manufacturer of deep-cycle energy storage solutions and a battery technology pioneer. Trojan provides power for a wide variety of motive and stationary applications that require deep-cycle battery performance.
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. C&D is a global leader in solutions and services for the utility, telecommunications, uninterruptible power supply, cable, broadband, and renewable energy markets.
Based in Boston and New York, Charlesbank is a middle-market private equity investment firm managing more than $5 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit investments. The firm seeks to partner with strong management teams to build companies with a sustainable competitive advantage and excellent prospects for growth.
KPS manages various funds with approximately $5.4 billion of assets under management across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment, and general manufacturing.
This acquisition will combine two leading battery and power management manufacturers with complementary product portfolios to create one of the largest energy storage solutions providers with over $1 billion of revenue, eight manufacturing facilities, and a presence in every major region.
Houlihan Lokey served as the exclusive sellside financial advisor to Trojan and assisted in initiating, structuring, and negotiating the transaction on its behalf. This transaction exemplifies the continued success of Houlihan Lokey's dedicated coverage of the Industrial Technologies sector, with complementary expertise in various electronics technologies as well as energy storage for the traditional and carbon-friendly energy production universe to deliver outstanding results to its clients.
RELATED: Industrials