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EnerSys to acquire Bren-Tronics Inc., expanding presence in critical defense applications

EnerSys, a global leader in stored energy solutions for industrial applications, has entered into a definitive agreement to acquire Bren-Tronics Inc. in an all-cash transaction valued at $208 million.

The Berks County-based EnerSys said it plans to finance the acquisition with cash on hand. The transaction is expected to close in the second calendar quarter of 2024, subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions.

The acquisition is described by EnerSys President & CEO David M. Shaffer as a strategic move that supports the company’s growth in the attractive and growing military and defense end market.

“Having partnered with Bren-Tronics to support the Department of Defense (DOD) for over five years, we know the company well,” he said in a statement. “We have tremendous respect for Bren-Tronics’ outstanding products that support our military every day and which help save lives on the front lines.”

Shaffer added that the cultures of the two companies are well-aligned, with product portfolios that are highly complementary, with minimal overlap in product lines.

Bren-Tronics is headquartered in Commack, N.Y., and is a leading manufacturer of portable power solutions, including small and large format lithium batteries and charging solutions for military and defense applications, according to a release.

“We are excited to integrate Bren-Tronics’ exceptional engineering and product development capabilities with our own to drive innovation, deliver enhanced services and strengthen our relationship with the DOD,” Shaffer said. “We look forward to welcoming the Bren-Tronics team into EnerSys at closing anticipated in the coming months.”

Bren-Tronics has approximately 280 employees across the U.S., France and the U.K., with 2023 sales of approximately $100 million. Bren-Tronics will be integrated within EnerSys’ Specialty line of business, the company said.

“Joining the EnerSys team is an exciting opportunity for Bren-Tronics,” Sai W. Fung, Bren-Tronics president and CEO, said in a statement. “This combination will allow us to leverage our respective strengths to solve critical DOD energy storage challenges together. I am extremely proud of Bren-Tronics’ legacy of reliability and innovation, and we look forward to building upon our success as a part of EnerSys.”

Mark Matthews, president, Specialty Global for EnerSys, said the acquisition will accelerate EnerSys’ progress in expanding its lithium product offerings, growing revenue and profitability, and advancing toward the company’s fiscal year 2027 targets.

“The additional product volume will be well supported by our planned lithium cell gigafactory,” Matthews said in a statement. “Together, we look forward to setting new standards in our industry, delivering innovative lithium technologies to our customers and continuing to deliver sustainable growth.”

In February, the company announced it was planning to develop the gigafactory in Greenville, S.C., to advance battery production in the U.S. The company said in February it is targeting construction to begin in early 2025, and operations to be online in late 2027.

(Courtesy EnerSys)
(Courtesy EnerSys)

EnerSys designs, manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide.

Source: Berkshire mont

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