EnerSys to Acquire Bren-Tronics, Inc. to Expand Presence in Critical Defense Applications

EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced it has entered into a definitive agreement to acquire Bren-Tronics, Inc. in an all-cash transaction of $208 million. The purchase price represents approximately 8.7x Bren-Tronics’ adjusted EBITDA for the twelve months ending December 31, 2023.

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EnerSys to acquire Bren-Tronics, Inc., a 50-year leader in Intelligent Military Batteries & Charging Systems. This acquisition will expand EnerSys’ presence in critical defense applications. (Photo: Business Wire)

Bren-Tronics, headquartered in Commack, N.Y., is a privately held company with a legacy of innovation since 1973. Bren-Tronics is a leading manufacturer of highly reliable portable power solutions, including small and large format lithium batteries and charging solutions, for military and defense applications. It has approximately 280 employees across the U.S., France, and the U.K., with 2023 sales of approximately $100 million. Bren-Tronics will be integrated within EnerSys’ Specialty line of business.

EnerSys plans to finance the acquisition with cash on hand. The acquisition is expected to be immediately accretive to EnerSys’ earnings per share and is expected to close in the second calendar quarter of 2024, subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions.

“The acquisition of Bren-Tronics is a strategic move that will strengthen our position as a critical enabler of the energy transition and supports our growth in the attractive and growing military and defense end market,” said EnerSys President & CEO David M. Shaffer. “Having partnered with Bren-Tronics to support the Department of Defense (DOD) for over five years, we know the company well. We have tremendous respect for Bren-Tronics’ outstanding products that support our military every day and which help save lives on the front lines. We have a proven track record of collaboration, and we know that our company cultures are well-aligned. Our product portfolios are highly complementary, with minimal overlap in our product lines. We are excited to integrate Bren-Tronics' exceptional engineering and product development capabilities with our own to drive innovation, deliver enhanced services, and strengthen our relationship with the DOD. We look forward to welcoming the Bren-Tronics team into EnerSys at closing anticipated in the coming months.”