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Trojan Battery Company acquired by C&D Technologies
Trojan Battery Company has announced that it is to be acquired by C&D Technologies in a move that will combine two leading battery manufacturers with complementary product portfolios, to create one of the largest energy storage providers with over $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.
"Trojan Battery is an industry leader with a great heritage and an amazing team of employees," said Neil Thomas, president and CEO of Trojan Battery. "I'm excited about the agreement with C&D and believe that it will secure the company's future and position it for even greater success in the years ahead."
Armand Lauzon, chief executive officer of C&D, says of the acquisition: "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."
The Godber family started Trojan Battery in 1925. Rick Godber, chairman of the Board, says he is enthusiastic about the transaction. "Although this will end 93 years of ownership in Trojan for the Godber family, we all look forward to watching the continued growth and success of the brand and its legacy," he says.
This is not the only major announcement made by Trojan Battery in recent months. Last month the company introduced the Trillium line of intelligent lithium ion batteries for deep cycle applications; late September it announced a rebranding to include a modern logo, vibrant colours, revised product branding and a new tagline: Charging Forward. The new logo depicts a revamped version of the iconic Pegasus which is now facing forward. "This change in direction signifies the positive momentum that Trojan Battery is experiencing as a company," said Neil Thomas, at the time.
8th November 2018