Holland & Knight Advises EnerSys in $750 Million Acquisition of Alpha Technologies
PHILADELPHIA (November 1, 2018) – Holland & Knight is advising EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, in its planned acquisition of assets belonging to the Alpha Technologies group of companies. The deal was announced on Oct. 29 and is expected to close in 30-60 days.
The total acquisition consideration is $750 million, which consists of $650 million in cash, with the remaining $100 million in either cash or EnerSys shares, depending on the average share price prior to closing.
The transaction is expected to strengthen EnerSys' competitive position by expanding its business to growing sectors like telecommunications infrastructure and developing energy-storage systems.
Reading, Pa.-based EnerSys manufactures and distributes reserve power and motive power batteries, chargers, power equipment and battery accessories to customers worldwide.
Alpha Technologies, which is based in Bellingham, Wash., is a global industry leader in comprehensive commercial-grade energy solutions for broadband, telecom, renewable, industrial and traffic customers around the world.
Holland & Knight Partner Paul Jaskot is leading the firm's representation of EnerSys in the deal. He is assisted by Partner Elizabeth Burkhard and Associates Samantha Peruto, Kristin Antario, Leah Messler and Nicole Martini.