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High Road Capital Partners acquires storage battery systems and solutions

High Road Capital Partners has completed the acquisition of Storage Battery Systems 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,” says 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 capitalising 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,” says John Bondy, President, Storage Battery Systems. “In addition, SBS is well positioned to capitalise 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.”
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. 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 USD30 million in 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.

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