READING, Pa., Oct. 8, 2013 /PRNewswire/ -- EnerSys (NYSE: ENS), the world's largest manufacturer, marketer, and distributor of industrial batteries, today announced that it has completed the acquisition of Purcell Systems, Inc. headquartered in Spokane, WA, from Weston Presidio and other stockholders.
"With this transaction now completed we look forward to working with customers of both EnerSys and Purcell to provide them with systems solutions to meet their needs," commented John D. Craig, chairman, president and chief executive officer of EnerSys.
"The Purcell team has done a tremendous job transforming Purcell Systems, a portfolio company of Weston Presidio, into an innovative, industry-leading, equipment enclosures solutions company that provides system level solutions to a blue-chip list of global customers," said Weston Presidio managing partner Sean Honey. "We appreciate the management team's hard work and wish them continued success with their new partners at EnerSys."
Caution Concerning Forward-Looking Statements
This press release (and oral statements made regarding the subjects of this release) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, (i) statements regarding EnerSys' plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning; and (ii) statements about the benefits of the acquisition of Purcell Systems Inc., including any impact on our financial and operating results and estimates, and any impact on EnerSys' market position that may be realized from the acquisition.
These forward-looking statements are based upon management's current beliefs or expectations and are inherently subject to significant business, economic, and competitive uncertainties and contingencies many of which are beyond our control. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (1) our ability to successfully integrate Purcell Systems, Inc.; (2) the possibility that EnerSys may not realize revenue benefits from the acquired business within expected time frames; (3) operating costs and business disruption following the acquisition , including possible adverse effects on relationships with employees, may be greater than expected; (4) competition may adversely affect the acquired business and result in customer loss: and (5) other factors described in "Risk Factors" and "Caution Concerning Forward Looking Statements" in EnerSys' Annual Report on Form 10-K for the fiscal year ended March 31, 2013 and reports on Forms 10-Q and Forms 8-K thereafter. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date such forward-looking statement is made.
For more information, contact Richard Zuidema, executive vice president, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 800-538-3627; Website: http://www.enersys.com.
About EnerSys: EnerSys, the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, chargers, power equipment, and battery accessories to customers worldwide. Motive power batteries are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring standby power. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.
More information regarding EnerSys can be found at http://www.enersys.com.
About Weston Presidio: Weston Presidio provides growth capital to companies with proven, exceptional management teams in the consumer, business services and industrial growth sectors. The Firm's goal is to build and realize value through growth and operating improvements. Since its founding in 1991, the Firm has managed five investment funds aggregating over $3.3 billion in total commitments. Weston Presidio's experienced team has helped identify, build and maximize value in over 100 growth companies.
More information regarding Weston Presidio can be found at http://www.westonpresidio.com.