LYON STATION, Pennsylvania – East Penn has acquired a majority interest in Navitas Systems. Navitas Systems produeces larger-format lithium battery technology and systems for the heavy-duty commercial/industrial and government/defence markets.
The acquisition will accelerate East Penn’s expansion of its Motive Power battery offering, as well as its strategic integration into other market segments. Navitas products will complement East Penn’s offerings, and its lithium Research and Development expertise will add to East Penn’s current lithium R&D program.
“East Penn and Navitas share corporate values of quality, research and development, and ethical integrity. Chairman and founder, Alan ElShafei, has built a rich company culture at Navitas very similar to ours here at East Penn. Navitas also shares our passion for producing safe, high quality Lithium products,” said Chris Pruitt, East Penn CEO and president.
“We are happy to be joining in partnership with such a strong, well-established company.”
Navitas Systems will continue to be run by its current management team, and both of its research and manufacturing facilities will remain in Ann Arbor, MI.
“We are delighted to join in this major partnership with East Penn” said ElShafei.
“We could not imagine a stronger company to partner with, and we look forward to helping bring advanced lithium battery solutions in a complementary fashion to the already innovative portfolio of battery products offered by East Penn.”
While East Penn remains focused on manufacturing lead batteries and its continued innovation, expanding its offerings will help meet broader customer demands as well as enabling entry into new markets.