East Penn recently announced that it acquired a majority interest in Navitas Systems, which produces large-format lithium battery technology and systems for heavy-duty commercial, industrial, government and defense market segments.
The acquisition will accelerate East Penn’s expansion of its Motive Power battery offering and its strategic integration into other market segments. Navitas products will complement East Penn’s offerings, and its lithium Research and Development expertise will augment East Penn’s current lithium R&D program.
“East Penn and Navitas share corporate values of quality, research and development and ethical integrity,” Chris Pruitt, East Penn president and CEO, said. “Chairman and Founder Alan ElShafei has built a rich company culture at Navitas very similar to ours here at East Penn. Navitas also shares our passion for producing safe, high-quality Lithium products. We are happy to be joining in partnership with such a strong, well-established company.”
Navitas Systems’ current management team will continue to run the company, and both of its research and manufacturing facilities will remain in Ann Arbor, Mich.
“We are delighted to join in this major partnership with East Penn” Alan ElShafei, chairman and founder of Navitas Systems, said. “They have earned such tremendous loyalty from customers and distributors alike, resulting from their caring culture, quality products, and continued focus on innovation. We could not imagine a stronger company to partner with, and we look forward to helping bring advanced lithium battery solutions in a complementary fashion to the already innovative portfolio of battery products offered by East Penn.”