Battery storage maker gains new investor

Charlesbank Capital Partners invested in California-based Trojan Battery Co., a maker of deep-cycle lead acid batteries used for energy storage. The amount of the deal was undisclosed.

The transaction is the first outside equity for the company, which has been owned by the Godber family since its founding in 1925. The family will maintain a significant ownership stake in Trojan. Houlihan Lokey served as financial advisor to Trojan Battery and Vetus Partners was due diligence advisor to Charlesbank.

Trojan’s batteries are manufactured in facilities in California and Georgia and are sold in more than 120 countries.

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