EnerSys (ENS): M&A transaction — EnerSys completes $208M all-cash acquisition of Bren-Tronics for defense power solutions

EnerSys

Acquired Bren-Tronics for $208M in cash from EnerSys's available cash on hand; no external financing needed.
Purchase price represents approximately 8.7x Bren-Tronics' adjusted EBITDA for the twelve months ended Dec 31, 2023.
Bren-Tronics had 2023 sales of ~$100M and 280 employees; integrated into EnerSys's Specialty line of business.
CEO David M. Shaffer says deal accelerates lithium product expansion and supports fiscal 2027 targets.
Transaction is immediately accretive to EnerSys; further details on fiscal Q1 2025 earnings call on Aug 8, 2024.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

EnerSys completed an acquisition involving Bren-Tronics Holdings Inc., owned by the Michael Brenna 2015 Irrevocable Trust, the Trust U/A Third (E) of the Leo. A. Brenna Revocable Trust Dated 02/07/2014 GST Exempt Trust F/B/O Michael Brenna, and the Trust U/A Third (E) of the Leo. A. Brenna Revocable Trust Dated 02/07/2014 Non GST Exempt Trus for approximately $208 million (closed 2024-07-26).

Action: acquisition
Counterparty: Bren-Tronics Holdings Inc., owned by the Michael Brenna 2015 Irrevocable Trust, the Trust U/A Third (E) of the Leo. A. Brenna Revocable Trust Dated 02/07/2014 GST Exempt Trust F/B/O Michael Brenna, and the Trust U/A Third (E) of the Leo. A. Brenna Revocable Trust Dated 02/07/2014 Non GST Exempt Trus
Consideration: approximately $208 million
Closing: 2024-07-26

Exact text from the filing

Trusts, Bren-Tronics, Inc., a New York corporation, and Barbara Dworkin as Seller’s and the Trusts’ representative (the “Agreement”), the Transaction is valued at approximately $208 million, subject to adjustments as set forth in the Agreement. The Transaction is fully funded with the Company’s available cash on hand, with no need for external financing. The

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Source: SEC EDGAR

accession 0001289308-24-000023

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