Charlesbank Capital Partners announced today that it has made an investment in supplier Trojan Battery Co., a global manufacturer of deep-cycle lead acid batteries for a variety of industries, including RV.
Headquartered in Santa Fe Springs, Calif., Trojan has been owned by the Godber family since its founding in 1925, according to a press release. The transaction, which was funded with both equity and debt, introduces the first outside equity for the company, with the management team making a notable co-investment and the Godber family maintaining a significant ownership position. GE Antares Capital provided the debt portion of the financing.
“Trojan sees diverse opportunities to continue to grow our business and increase market share with Charlesbank as our new partner,” said Jeff Elder, president and CEO of Trojan Battery. “Trojan takes pride in cultivating strong relationships with our customers and we are pleased to have raised capital that will help Trojan expand and meet its full potential. Charlesbank’s experienced team will be a valuable strategic resource as we move ahead in establishing our U.S.-based manufacturing facility for AGM batteries and our continued global expansion.”
“We are very pleased to partner with this talented management team to help continue to grow the business and build on the 88-year legacy of the Godber family,” said Ryan Carroll, Charlesbank Managing Director. “Trojan has a well-respected brand in the battery industry and a reputation for high quality and technology leadership. With this excellent foundation we believe the business is well-developed to grow in its existing markets as well as in newer markets such as renewable energy, transportation and back-up power.”
Trojan Battery Co. is introducing T2 technology to its most popular flooded, deep cycle golf, renewable energy, floor machine, AWP, marine and RV batteries. Trojan’s T2 technology integrates a series of refinements that enhance performance characteristics resulting in a more robust battery design. Improvements include enhancements in Alpha Plus Paste and the Maxguard separator design. This refined structure further enhances Alpha Plus Paste’s porosity development, resulting in a battery that delivers more sustained capacity and higher total accumulated ampere-hours. Additionally, the metallic composition enhances electrical conductivity for improved electrical performance. The batteries carry an 18-month warranty. Full production of Trojan’s T2 technology batteries will begin in June and products will be available to the worldwide master distributor network at that time. Trojan Battery Co., 12380 Clark St., Santa Fe Springs, CA 90670; (562) 236-3000 or (800) 423-6569; Fax: (562) 236-3282; or 5174 Minola Drive, Lithonia, GA 30038; (678) 518-7300 or (800) 246-2550; Fax: (678) 518-7398; www.trojanbattery.com.