Tropical Battery acquires US firm Rose Batteries

Tropical Battery Company has acquired Rose Electronics Distributing Company, also know as Rose Batteries.
The firm is based in San Jose, California, in the heart of Silicon Valley.
Founded in 1963, Rose Batteries specialises in batteries for industries requiring critical power, including healthcare and aerospace.
Tropical Battery says the acquisition of Rose Batteries represents a significant milestone in its diversification strategy.
The deal was completed through Tropical's US subsidiary Tropical Battery USA LLC.
The company says while the purchase price is subject to strict non-disclosure restrictions, the price significantly exceeds 50 per cent of the market capitalisation of Tropical.
The integration of Rose Batteries will help firm up the company's expansion into the United States.
Tropical Battery says the acquisition is projected to materially enhance the company's free cash flow, improve its cash conversion cycle, and increase the return on capital.
Sygnus Capital served as lead arranger in the transaction.

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