Business transaction: Ecobat sells European battery distribution division to Endless LLP.
In a significant move, Ecobat, a leading player in the battery market, has announced the completion of the sale of its European battery distribution business to Endless LLP, a UK-based private equity firm.
The battery distribution division, a significant part of Ecobat's European portfolio, has been delivering high-quality energy storage solutions across Europe. The division features renowned battery brands such as Lucas, Exide, Varta, and Rolls, and supplies a wide range of batteries for various applications, including automotive, commercial vehicles, marine, leisure, and industrial uses.
Tom Slabe, the President and CEO of Ecobat, announced the sale. He expressed confidence that Endless LLP's experience and strategic approach will support the ongoing success of the battery distribution business for its employees, customers, and suppliers. Slabe, however, did not provide further details about the terms of the sale.
Rothschild & Co acted as financial advisor to Ecobat on the transaction, while White & Case served as legal advisor. Interestingly, it was recently reported that the new owner of the European battery distribution subsidiary of Ecobat is Novomind, not Endless LLP. However, Ecobat has not officially confirmed this information.
The transaction marks another step in Ecobat's strategy to divest non-core assets and sharpen focus on its core mission of sustainable battery recycling. The sale of the battery distribution division does not affect Ecobat's global battery recycling operations.
This news is a source of the latest Batteries News shaping the battery market. Ecobat will continue to explore additional opportunities to maximize value for shareholders beyond the sale of the battery distribution division.
The sale of the European battery distribution business to Endless LLP is expected to pave the way for further growth and innovation in the battery industry. As the market continues to evolve, Ecobat remains committed to its mission of providing sustainable energy solutions.
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