Today, EnerSysannounced it has agreed to purchase Purcell Systems, which creates thermally managed electronic equipment enclosures for a variety of industries, including telecom, energy, transportation, and government. The transaction is valued at $115 million and will be financed through cash and credit facilities.
EnerSys CEO and Chairman John Craig said in the press release that Purcell's products and services are a "natural extension of EnerSys' stored energy market leadership." EnerSys is one of the world's largest industrial battery makers. Purcell sales are currently in excess of $100 million per year and EnerSys expects the purchase to be accretive to earnings by $0.15 to $0.20 cents per diluted share in the first year.
For the year ending March 31, 2013, EnerSys had diluted earnings per share of $3.42 and net sales of $2.3 billion .
Purcell Systems headquarters are located Spokane, Wash., and it has international operations based out of Stockholm, Sweden. EnerSys is headquartered in Reading, Pa.
The article EnerSys to Buy Purcell Systems for $115 Million originally appeared on Fool.com.
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