High Road Capital Partners (www.highroadcap.com) has completed the acquisition of Storage Battery Systems, LLC (www.sbsbattery.com) from Supply Chain Equity Partners, marking the seventh platform acquisition for High Road Capital Partners Fund II.
Founded in 1915 and based in Menomonee Falls, Wisconsin, Storage Battery Systems (SBS) is a leading assembler and value-added distributor of branded, rechargeable industrial battery solutions and test equipment for motive, stationary and standby power applications.
“SBS is a leading provider of motive power solutions for the material handling and logistics industries and a trusted service partner for manufacturing and distribution companies in the upper Midwest, as well as a total systems solution provider for the standby power market in North America,” said Ben Schnakenberg, Partner, High Road Capital Partners. He continued, “Storage Battery Systems’ consultative sales approach, global sourcing capabilities, and flexible assembly operations allow SBS to offer custom power solutions tailored to clients’ needs. We look forward to supporting the SBS team in expanding geographically and capitalizing on growth within the industries SBS serves.”
“The SBS team looks forward to working with High Road to expand our geographic presence and accelerate our growth in motive power,” said John Bondy, President, Storage Battery Systems. “In addition, SBS is well positioned to capitalize on the significant growth opportunity in the standby power market nationwide and in Canada and, with High Road’s support, will accelerate these growth initiatives.”
Mr. Bondy will continue to lead the company post-closing. He and other members of SBS’ senior management team invested in the transaction alongside High Road.
High Road’s acquisition of Storage Battery Systems closed on May 19, 2017. Mr. Schnakenberg led the transaction for High Road and was assisted by Nick Martino, Operating Partner; Scott Rubino, Principal; and Tom Cassidy, Associate. Twin Brook Capital Partners provided financing for the transaction. BB&T Capital Markets advised SBS. Transaction consideration was not disclosed.
High Road Capital Partners has completed 42 transactions – 17 platform investments, 20 add-on acquisitions and five exits – since its founding in 2007.
For further information, please contact Ben Schnakenberg of High Road Capital Partners at (212) 554-3269.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
Storage Battery Systems, LLC
Established in 1915, Storage Battery Systems, LLC provides DC Power Solutions™ for stationary, UPS and forklift/motive power applications. Products and services include Lithium-Ion, Nickel Cadmium, sealed VRLA (AGM and Gel), wet cell batteries, as well as custom-designed power products; chargers, testing and monitoring equipment; storage systems; and skilled technical support. SBS is an ISO-9001 certified manufacturer based in Menomonee Falls, Wisconsin, with facilities in Greenville, Wisconsin; Carol Stream, Illinois; and Ft. Wayne and Elkhart, Indiana.
