Reading-based EnerSys buys Purcell Systems

Written by The Associated Press | Sep 19, 2013 11:47 AM
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(Reading) -- EnerSys says it reached a deal to buy Purcell Systems Incorporated for $115 million.

Spokane, Washington-based Purcell designs, manufactures and markets thermally-managed electronic equipment and battery cabinet enclosures for telecommunication, broadband, utility, rail and military uses.

EnerSys, one of the world's largest industrial battery makers, says Purcell's products and services are a natural extension of its own offerings for the stored energy market.
Privately held Purcell currently posts annual sales of about $100 million. EnerSys says it expects the deal to boost its earnings by 15 to 20 cents per share in the first year. The company earned $166.5 million, or $3.42 per share, for its fiscal year ended March 31st.
 Reading-based EnerSys says it plans to finance the acquisition with existing cash and credit facilities.

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