Charlesbank Capital invests in Trojan Battery
By Sarah Ann McCay11 July 2013
Charlesbank Capital Partners has invested in Trojan Battery Company as the manufacturer looks to establish its US-based manufacturing facility for AGM batteries and expand globally.
The Godber family has owned the California-headquartered battery manufacturer since its inception in 1925.
The Charlesbank transaction, which was funded with both equity and debt, introduces the first outside equity for the company. However, the Godber family maintains 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."
Trojan Battery operates manufacturing facilities in California and Georgia, while its products are sold in more than 120 countries through its global network of more than 50 distributors, as well as more than 100 direct customers, including vehicle and equipment OEMs.