EnerSys® Acquires Industrial Battery and Charger Services Limited and Expands Its Motive Power Service Offerings in the UK
Rotherham, United Kingdom, Thursday, April 6, 2023
– EnerSys®, (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced today that it has acquired Industrial Battery and Charger Services Limited (IBCS), a leading battery service and maintenance provider based in the United Kingdom (UK).
The acquisition represents a strategic move for EnerSys®, enabling the company to expand its motive power service offerings and strengthen its presence in the UK market. With the addition of IBCS, EnerSys® will be able to further enhance its comprehensive range of battery-related services, from installation and maintenance to repair and replacement.
"We are excited to welcome IBCS to the EnerSys family," said Vincent Baudelet, VP Sales and Service, Motive Power EMEA, at EnerSys. "Their expertise in battery service and maintenance will enhance our ability to provide end-to-end solutions for our customers, and their strong reputation in the UK market will help us grow our business in the region."
IBCS will continue to operate under its current name and branding, and its management team is expected to remain in place. The acquisition is effective immediately.
"We are delighted to be joining forces with EnerSys," said Paul Hewson, Managing Director at IBCS. "This partnership will allow us to offer our customers even more comprehensive and integrated battery solutions, including top-of-the-line lead acid batteries, proprietary Thin Plate Pure Lead technology (TPPL), and the industry’s most advanced lithium battery while also providing new opportunities for our employees."
Financial terms of the acquisition were not disclosed.
Caution Concerning Forward-Looking Statements
This press release contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended. Such forward-looking statements may include financial and other projections as well as statements regarding EnerSys’ future plans, objectives, performance, revenues, growth, profits, operating expenses or EnerSys’ underlying assumptions. The words “may,” “would,” “should,” “could,” “will,” “likely,” “possibly,” “expect,” “anticipate,” “intend,” “indicate,” “estimate,” “target,” “potentially,” “promising,” “probably,” “outlook,” “predict,” “contemplate,” “continue,” “plan,” “forecast,” “project,” “are hopeful,” “are optimistic,” “are looking,” “are looking forward” and “believe” or other similar words and phrases may identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that EnerSys’ actual future results or performance may be materially different.
Such forward-looking statements involve known and unknown risks and uncertainties. A number of factors could cause actual results, events or developments, or industry results, to be materially different from any future results, events or developments expressed, implied or anticipated by such forward-looking statements, and our business and financial condition and results of operations could be materially and adversely affected. In addition to factors previously disclosed in EnerSys’ reports filed with the U.S. Securities and Exchange Commission (the “SEC”), such factors include, among others, that EnerSys’ or IBCS’ respective businesses may not perform as expected; that EnerSys is unable to successfully implement integration strategies; reputational risks and the reaction of IBCS’ customers to the transaction; diversion of management time on acquisition-related issues; the integration of acquired business with EnerSys may take longer than anticipated or be more costly to complete and that the anticipated benefits, including any anticipated cost savings or strategic gains may be significantly harder to achieve or take longer than anticipated or may not be achieved. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. EnerSys does not undertake to update forward-looking statements.
Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. No undue reliance should be placed on any forward-looking statements. For a complete discussion of the assumptions, risks and uncertainties related to EnerSys’ business, you are encouraged to review its filings with the SEC, including the most recent Annual Report on Form 10-K, as updated by quarterly or other reports subsequently filed with the SEC.
EnerSys®, the global leader in stored energy solutions for industrial applications, manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Energy Systems, which combine enclosures, power conversion, power distribution and energy storage, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles requiring stored energy solutions. Specialty batteries are used in aerospace and defense applications, large over-the-road trucks, premium automotive, medical and security systems applications. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. EnerSys is the market leader for premium Thin Plate Pure Lead batteries which are sold across all three lines of business. More information regarding EnerSys can be found at www.enersys.com.
About Industrial Battery and Charger Services Limited (IBCS)
IBCS is a leading provider of battery service and maintenance solutions in the UK. With a focus on quality, safety, and customer service, IBCS helps businesses maximize the performance and lifespan of their battery systems.
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