Ecobat Completes the Sale of European Battery Distribution Business to Endless LLP
In an important strategic move, Ecobat, a leading player in the global battery recycling industry, has announced the successful completion of the sale of its European battery distribution business to Endless LLP, a private equity firm based in the United Kingdom.
This division, which is a significant part of Ecobat’s overall portfolio in Europe, has historically supplied a wide array of batteries suitable for various applications. These applications range from automotive and commercial vehicles to marine and industrial uses. Renowned brands like Lucas, Exide, Varta, and Rolls have been part of the offerings through this distribution channel, emphasizing the quality and reliability that Ecobat is known for.
Tom Slabe, the President and CEO of Ecobat, expressed his enthusiasm regarding the completion of this transaction. "We are pleased to announce the closure of the sale of our European battery distribution business to Endless," he stated. He further explained that this move represents a part of Ecobat’s ongoing strategy to divest non-core assets and to concentrate more intensely on its principal mission of sustainable battery recycling.
Slabe elaborated on the future direction of Ecobat, noting, "Ecobat will continue to seek additional opportunities to maximize shareholder value beyond the sale of the battery distribution division." This reflects a commitment to not only maintaining but enhancing the company’s market presence and operational efficiency in the recycling sector.
Endless LLP, established two decades ago, has a history of investing in businesses to help management teams realize their strategic objectives. According to the firm, they are currently investing £400 million in their Fund V, focusing on buyouts and acquisitions of larger companies that do not align with core operations. With offices in London, Leeds, and Manchester, Endless specializes in driving transformations and strategic carve-outs to create sustainable, long-term value.
As for the future of the battery distribution business now under Endless, Slabe is optimistic. "We are confident that Endless’s expertise and strategic focus will support the continued success of the battery distribution business for our employees, customers, and suppliers," he mentioned. Such optimism reflects a steady handover, aiming to ensure that existing relationships and operational functions are maintained seamlessly.
Rothschild & Co has served as financial advisors, while White & Case acted as legal advisors to Ecobat during this transaction. Looking toward the future, Ecobat reaffirms its position as the world's largest recycler of batteries, with operations spanning across Europe and the United States. The company's commitment to building a more sustainable future is underlined by their innovative approaches to battery recycling, resource recovery, and energy storage solutions. Through their robust framework, Ecobat ensures that valuable materials essential to modern life are handled responsibly, contributing to a circular economy.
In conclusion, this significant sale marks a pivotal shift for Ecobat, as it seeks to strengthen its hold in core areas while entrusting its battery distribution division to the capable hands of Endless LLP. As the industry evolves and the demand for sustainable solutions increases, Ecobat remains poised to innovate and lead in the realm of battery recycling, aligning with its mission to create a sustainable future for all.
This division, which is a significant part of Ecobat’s overall portfolio in Europe, has historically supplied a wide array of batteries suitable for various applications. These applications range from automotive and commercial vehicles to marine and industrial uses. Renowned brands like Lucas, Exide, Varta, and Rolls have been part of the offerings through this distribution channel, emphasizing the quality and reliability that Ecobat is known for.
Tom Slabe, the President and CEO of Ecobat, expressed his enthusiasm regarding the completion of this transaction. "We are pleased to announce the closure of the sale of our European battery distribution business to Endless," he stated. He further explained that this move represents a part of Ecobat’s ongoing strategy to divest non-core assets and to concentrate more intensely on its principal mission of sustainable battery recycling.
Slabe elaborated on the future direction of Ecobat, noting, "Ecobat will continue to seek additional opportunities to maximize shareholder value beyond the sale of the battery distribution division." This reflects a commitment to not only maintaining but enhancing the company’s market presence and operational efficiency in the recycling sector.
Endless LLP, established two decades ago, has a history of investing in businesses to help management teams realize their strategic objectives. According to the firm, they are currently investing £400 million in their Fund V, focusing on buyouts and acquisitions of larger companies that do not align with core operations. With offices in London, Leeds, and Manchester, Endless specializes in driving transformations and strategic carve-outs to create sustainable, long-term value.
As for the future of the battery distribution business now under Endless, Slabe is optimistic. "We are confident that Endless’s expertise and strategic focus will support the continued success of the battery distribution business for our employees, customers, and suppliers," he mentioned. Such optimism reflects a steady handover, aiming to ensure that existing relationships and operational functions are maintained seamlessly.
Rothschild & Co has served as financial advisors, while White & Case acted as legal advisors to Ecobat during this transaction. Looking toward the future, Ecobat reaffirms its position as the world's largest recycler of batteries, with operations spanning across Europe and the United States. The company's commitment to building a more sustainable future is underlined by their innovative approaches to battery recycling, resource recovery, and energy storage solutions. Through their robust framework, Ecobat ensures that valuable materials essential to modern life are handled responsibly, contributing to a circular economy.
In conclusion, this significant sale marks a pivotal shift for Ecobat, as it seeks to strengthen its hold in core areas while entrusting its battery distribution division to the capable hands of Endless LLP. As the industry evolves and the demand for sustainable solutions increases, Ecobat remains poised to innovate and lead in the realm of battery recycling, aligning with its mission to create a sustainable future for all.
Topics Business Technology）
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