Trojan Battery Company, LLC, one of the leading deep-cycle battery manufacturers in the world, announced that its current majority owner, an affiliate of Charlesbank Capital Partners, has reached an agreement with C&D Technologies, a portfolio company of KPS Capital Partners, for C&D Technologies to acquire Trojan.

This acquisition will combine two battery manufacturers with complementary product portfolios to create one of the largest energy storage providers with more than $1.0 billion of revenue, eight manufacturing facilities and a presence in every major region. The transaction is expected to close in approximately 60 days.

Given C&D and Trojan’s complementary portfolios of global manufacturing plants, markets and products, this is a highly compelling combination with tremendous strategic value and an exciting multi-segment growth opportunity. We are committed to preserving everything about C&D and Trojan that our respective loyal customers, suppliers and employees have come to expect over the years, while also using our larger scale and resources to take advantage of many exciting new opportunities.

—Armand Lauzon, Chief Executive Officer of C&D