The owners of Trojan Battery Company, LLC, have reached an agreement that sees C&D Technologies, a portfolio company of KPS Capital Partners, acquire Trojan.
The acquisition will combine two leading battery manufacturers with complementary product portfolios to create one of the largest energy storage providers with more than $1bn revenue, eight manufacturing facilities and a presence in every major region. The transaction is expected to close within 60 days.
Neil Thomas, President and CEO of Trojan Battery, said: “Trojan Battery is an industry leader with a great heritage and an amazing team of employees. 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.”
Founded in 1925 by the Godber family, Trojan Battery is one of the leading deep-cycle battery manufacturers in the world. Rick Godber, chairman of the board, added: “I am enthusiastic about the transaction that is taking place with KPS and C&D. 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.”
