Ecobat Finalizes Sale of European Battery Distribution Unit to Endless LLP
Ecobat Completes Strategic Sale of Battery Distribution Business
Ecobat, recognized globally as a leader in battery recycling, has recently announced the successful sale of its European battery distribution arm to Endless LLP, a private equity firm based in the UK. This strategic move is seen as a significant step in Ecobat's ongoing efforts to focus on its core mission: sustainable battery recycling.
The European battery distribution division has been a pivotal component of Ecobat's operations, catering to a diverse range of sectors including automotive, industrial, marine, and commercial applications. This division has provided essential energy storage solutions across Europe, featuring a range of highly regarded brands such as Lucas, Exide, Varta, and Rolls.
Tom Slabe, President and CEO of Ecobat, expressed confidence regarding this transaction. In a statement, he said, "We are pleased to announce the completion of the European battery distribution sale to Endless. This transaction marks another step in our strategy to divest non-core assets and sharpen our focus on our core mission of sustainable battery recycling. Ecobat will continue to explore additional opportunities to maximize value for shareholders beyond the sale of the battery distribution division."
Slabe further praised Endless LLP, stating, "We are confident that Endless's experience and strategic approach will support the ongoing success of the battery distribution business for our employees, customers, and suppliers."
The transaction involved the advisory services of Rothschild & Co as financial advisors and White & Case as legal advisors to Ecobat, ensuring that the sale was completed smoothly and efficiently.
About Ecobat
Ecobat stands as the largest battery recycler in the world, with extensive operations in both Europe and the United States. The company's dedication to a sustainable future is reinforced through innovative approaches in battery recycling, resource recovery, and energy storage. With a commitment to responsible management of vital materials, Ecobat aims to play a crucial role in today's environmentally conscious market.
About Endless LLP
Endless LLP, established 20 years ago, has built a solid reputation as a private equity firm that focuses on investing in businesses and assisting management teams in achieving their strategic goals. Presently managing its £400 million Fund V, Endless specializes in supporting buyouts and non-core acquisitions from larger groups. With offices located across London, Leeds, and Manchester, Endless excels in driving transformation, enabling growth, and executing strategic carve-outs designed to foster long-term value creation for the businesses it invests in.
This sale is an exciting chapter for both Ecobat and Endless LLP, marking a transition that promises to benefit employees, customers, and clients connected with the European battery distribution sector. As Ecobat refines its focus on battery recycling, we can expect to see valuable developments in sustainable energy solutions in the forthcoming years.