William Blair Advises Alpha Technologies Group of Companies

Wednesday, October 31, 2018

Alpha has agreed to be acquired by EnerSys

William Blair acted as the exclusive financial advisor to Alpha Technologies Group of Companies ("Alpha"), in connection with its pending sale to Enersys (NYSE: ENS). The $750 million acquisition combines world-class complementary portfolios, creating a fully integrated powering solutions provider globally serving the broadband, telecom & wireless, renewable energy and industrial markets. The transaction was signed on October 29, 2018 and is expected to close in the next thirty to sixty days, subject to satisfaction of customary closing conditions.

Transaction Highlights

  • Deep relationships and industry expertise: Alpha was attracted to William Blair's extensive knowledge and prior transaction experience within the communications and industrial technology sectors, strong relationships with the most relevant buyers and significant experience serving founder-owned companies. Strategic and financial buyers demonstrated strong interest in the company given its entrenched position with leading broadband and wireless customers and other compelling opportunities in industrial and smart grid applications.
  • Creative, successful positioning: Alpha valued William Blair's ability to effectively position the company's differentiation and leading position in each of its end markets to potential acquirers. Additionally, William Blair articulated Alpha's earnings momentum through a meticulously crafted pro-forma EBITDA analysis of four independently operated companies underpinned by a sell side quality of earnings report and combined synergies estimates. This successful positioning unlocked the embedded value of "One Alpha" and helped deliver an exceptional outcome that maximized Alpha's shareholder's and management's objectives.
  • Process and execution excellence: William Blair's transaction team led and managed a competitive process with a qualified group of strategic and financial buyers. The team's negotiation and process tactics generated an exceptional valuation with highly favorable key deal terms in the face of an extremely complex corporate structure.

About the Companies

Alpha is a global industry leader in mission-critical powering solutions for broadband, telecom and wireless, renewable energy and industrial customers globally. Alpha’s powering solutions comprise of systems, software and services and are sold across a highly diversified set of networks and applications, including DOCSIS3.1 / FTTx, 5G, fixed wireless and IoT. Over the past 40 plus years, Alpha has established its position as a trusted solutions provider across a large base of blue-chip customers, such as Comcast, Charter Spectrum, Verizon Wireless and AT&T. Alpha is based in Bellingham, Washington and Burnaby, British Columbia, Canada, with several worldwide locations and has over 1,000 employees.

EnerSys, the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, chargers, power equipment, and battery accessories to customers worldwide. Motive power batteries are utilized in electric fork trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunications and utility industries, uninterruptible power supplies, and numerous applications requiring standby power. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.

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