Reading, Pa.-headquartered battery manufacturer EnerSys completed its all-cash $208 million purchase of another leading portable power solutions manufacturer.
“We are very pleased to have closed this important transaction and can officially welcome Bren-Tronics to the EnerSys family,” said EnerSys President and CEO David Shaffer.
“EnerSys’ combination with Bren-Tronics will strengthen our position as a critical enabler of the energy transition and supports our growth in the attractive and growing military and defense end markets,” Shaffer added.
Headquartered in Commack, N.Y., the formerly privately held Bren-Tronics Inc. will be integrated within EnerSys’ specialty line of business. The company’s battery manufacturing includes small and large format lithium batteries and charging solutions for military and defense applications.
With roughly 280 employees across the United States, France, and the United Kingdom, Bren-Tronics reported 2023 sales of approximately $100 million.
The purchase price represents almost nine times Bren-Tronics’ adjusted EBITDA for the 12 months ending Dec. 31, 2023, according to EnerSys, which said the transaction will show an immediate increase in earnings per share.
“Our acquisition will accelerate EnerSys’ transformation in expanding our lithium product offerings, growing revenue and profitability, and advancing toward our fiscal year 2027 targets,” Shaffer said.
EnerSys also said that more updates on the strategic and financial benefits of the acquisition, as well as integration plans, will be provided during its first-quarter fiscal year 2025 earnings call scheduled for Aug. 8.