Investment firm KPS buys C&D Technologies
Investment firm KPS Capital Partners has ought C&D Technologies, a firm that produces systems for power conversion and electricity storage, the firm announced on August 22.
As well as making, engineering and supplying VRLA and VLA (vented lead-acid) batteries for the telecommunications, UPS, energy and infrastructure and engine starting sectors, C&D also makes lithium-ion batteries, battery monitoring systems and battery accessories like racks and cabinets.
It has offices across the world.
KPS managing partner David Shapiro said the company planned to “aggressively grow the C&D platform both organically and through strategic acquisitions.
“As a result of KPS’ acquisition, C&D is now well capitalized, with a strong balance sheet and access to KPS’ strategic, operational and financial resources,” he said.
C&D, which is based in Blue Bell, Pennsylvania, US, operates four manufacturing plants in the US, Mexico and China.
KPS focuses its investments in global manufacturing and industrial businesses.
Chief executive officer of C&D, Armand Lauzon, said the two companies shared the same focus and that the capital injection would accelerate growth initiatives.