READING, Pa., Jan. 7, 2002 — EnerSys Inc., one of America’s providers of stored DC power products, systems and services, reached an agreement to acquire the Energy Storage products group of Invensys plc.
EnerSys Inc., along with the newly acquired Energy Storage products group, will continue to provide advanced stored energy solutions to markets such as utilities, uninterruptible power supply (UPS), telecommunications, data communications, internet and materials handling. The closing of the transaction is expected in the first quarter of 2002 and is subject to various regulatory approvals, the receipt of financing by EnerSys and other customary conditions.
In announcing the agreement, John D. Craig, Chairman, President and CEO of EnerSys, said, “This acquisition significantly enhances the strategic positioning and scale of EnerSys. The combining of the U.S.-based EnerSys and the European-based Energy Storage products group will result in the world’s largest industrial battery company.
“The expanded product portfolio, which includes brand names such as Exide, Hawker, General and Powersafe, will offer customers the widest product selection available from any one manufacturer. The combined worldwide manufacturing and distribution network will better position our company to serve our global customer base and will offer exciting opportunities for our employees. These capabilities, coupled with the financial strength of our partner, Morgan Stanley Capital Partners, will help us achieve our ambitious, yet very realistic, business goals.”
Pro forma worldwide revenues of the combined operations for the twelve months ended November 2001 were $1.0 billion. The company will employ over 7,500 employees at 22 manufacturing locations globally, with offices in over 27 countries. The organization will continue to operate as EnerSys Inc. with its headquarters in Reading, Pennsylvania, USA.
Craig added, “EnerSys will continue to move forward and extend our legacy of stored DC energy systems innovation and expertise. Our mission is to enhance our position as a world-class provider of fully integrated stored power solutions.”
For further information, contact Richard Zuidema, Executive Vice President, EnerSys Inc., 2366 Bernville Road, Reading, PA 19605, 800-538-3627, Fax 610-208-1807.
About EnerSys Inc.
EnerSys Inc. is a leader in stored energy solutions. The company maintains its worldwide corporate headquarters, research, development and engineering facilities in Reading, Pennsylvania. EnerSys Inc. operates manufacturing facilities in the United States, Argentina, Brazil, Canada and Mexico and has 2,500 employees. The company was formed through the acquisition of the Industrial Products Group of Yuasa Corp. by Morgan Stanley Capital Partners and the management team of EnerSys Inc. on November 9th, 2000.
EnerSys Inc. is one of America’s providers of DC power products, systems and services providing motive power and stationary power solutions to industrial users. The company maintains its position by providing customers with world-class products and services, achieved through total employee involvement, teamwork, and supplier partnerships. Exceeding customers’ expectations and supplying the highest quality products and services are paramount at EnerSys, and ultimately help customers achieve their goals. This belief is the foundation that helps shape the company’s vision for progress. Visit www.enersysinc.com.
About Invensys Energy Storage
Invensys Energy Storage products group is a supplier of motive power and stationary power solutions to industrial users. It has its headquarters in Chippenham, UK. The company has 15 manufacturing facilities in the United States, Mexico, France, Germany, United Kingdom, Poland, China, Italy and Spain. Its main product brands are Hawker and Powersafe.
About Invensys plc
Invensys plc is a player in the automation and controls industry. With headquarters in London, England, it operates in all regions of the world through four focused divisions — Software Systems, Automation Systems, Powerware and Control Systems. The group’s products and services range from advanced control systems and networks for automating industrial plants and controlling the environment of buildings, to electronic devices and controls found in residential buildings and light commercial applications, plus complete power systems for the telecommunications and information technology industries. For more information on Invensys plc, please visit www.invensys.com.
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners is the main fund of Morgan Stanley Private Equity, the private equity business of Morgan Stanley & Co. Morgan Stanley Private Equity’s funds consist of Capital Partners, Venture Partners and Emerging Markets. For more information, please visit their web site at www.morganstanley.com/privateequity.