© mikael damkier dreamstime.com Electronics Production | September 20, 2019
EnerSys to acquire NorthStar from Altor
EnerSys, a provider of stored energy solutions for industrial applications, has entered into an agreement to acquire N Holding AB, the parent company of NorthStar, from Altor Fund II.
Headquartered in Stockholm and with two production facilities in Springfield, Missouri, NorthStar designs, manufactures and distributes industrial batteries for the telecom and transportation segments. The acquired companies generated USD 157 million in revenue for the twelve months ending August 31, 2019. “In line with our previously disclosed strategy to increase sales of premium products we are excited to announce the acquisition of NorthStar, which will enable EnerSys to dramatically accelerate our sales for TPPL batteries,” says David M. Shaffer, President and Chief Executive Officer of EnerSys, in a press update.. The newer of the two NorthStar factories has not fully been built out and has floor space immediately available for EnerSys new TPPL high-speed production line. “The highly automated and digitized line has passed manufacturer acceptance tests and was already on route to Missouri. The line adds USD 175 million of production capacity, produces batteries three times faster than our existing production lines and requires significantly less operators and is well aligned with our operational excellence goals. It also eliminates the need to remove two existing production lines from our Warrensburg, Missouri facility to accommodate this line,” Shaffer continues.