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Bren-Tronics, headquartered in Commack, New York. PHOTO/ENERSYS
EnerSys acquiring military battery manufacturer for $208M
Stacy Wescoe//May 9, 2024//
EnerSys, a Reading-based manufacturer of industrial batteries, has entered a definitive agreement to acquire Bren-Tronics Inc. in an all-cash transaction of $208 million.
Bren-Tronics, headquartered in Commack, New York, is a privately held company that manufactures portable power solutions, including small and large format lithium batteries and charging solutions, for military and defense applications.
It 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.
EnerSys plans to finance the acquisition with cash in hand and 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 of Bren-Tronics is a strategic move that 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 market,” said EnerSys President and CEO David M. Shaffer. “Having partnered with Bren-Tronics to support the Department of Defense for over five years, we know the company well. We have tremendous respect for Bren-Tronics’ outstanding products that support our military every day and which help save lives on the front lines.”
Mark Matthews, president of specialty global at EnerSys said the acquisition will help the company with its lithium product offerings.
“This acquisition will accelerate EnerSys’ progress in expanding our lithium product offerings, growing revenue and profitability and advancing toward our fiscal year 2027 targets,” he said. “The additional product volume will be well supported by our planned lithium cell gigafactory. Together, we look forward to setting new standards in our industry, delivering innovative lithium technologies to our customers, and continuing to deliver sustainable growth.”
