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EnerSys to Acquire Purcell Systems for $115 Million

September 17, 2013 by Jeff Shepard

EnerSys has entered into an agreement to acquire Purcell Systems, Inc. headquartered in Spokane, WA. The purchase price for this acquisition is $115 million and will be financed using existing cash and credit facilities. The closing of the transaction is subject to customary regulatory and closing conditions being satisfied. Purcell Systems is a designer, manufacturer and marketer of thermally managed electronic equipment and battery cabinet enclosures for customers globally in telecommunication, broadband, utility, rail and military applications.

"We look forward to welcoming the Purcell organization to the EnerSys family and are excited to be able to provide our customers with fully integrated solutions that will ease their equipment deployment process. We look forward to expanding our strategic partnerships with our existing customers and launching the Purcell brand into new and emerging markets," said John D. Craig, chairman, president and chief executive officer of EnerSys. "Purcell's products and services are a natural extension of EnerSys' stored energy market leadership. Purcell sales are currently in excess of $100 million per year and we anticipate that this transaction will be accretive to our earnings by 15 to 20 cents per diluted share in the first year."

EnerSys considers itself to be the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, chargers, power equipment, and battery accessories to customers worldwide. Motive power batteries are utilized in electric fork trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunications and utility industries, uninterruptible power supplies, and numerous applications requiring standby power. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.