EXIDE TECHNOLOGIES: Atlas Wins Auction for Americas Biz.

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Exide Technologies, LLC, a global provider of stored energy solutions, announced the successful conclusion of its auction for its Americas business, held as part of its court-supervised sale process, with the Company’s determination that a proposal from an affiliate of Atlas Holdings LLC, is the highest or otherwise best offer. Atlas and its affiliates own and operate 20 industrial manufacturing, distribution and logistics companies around the world, employing more than 20,000 associates at more than 150 facilities.

Under the terms of the proposed agreement, which has been filed with the U.S. Bankruptcy Court, the affiliate of Atlas will acquire assets comprising substantially all of Exide’s ongoing Americas business and operations for approximately $178.6 million, subject to adjustments, and assume certain liabilities related to the acquired assets. The Agreement contemplates the continued operation of Exide’s transportation, recycling and GNB Industrial Power businesses.

Separately, as announced when the Company filed for bankruptcy on May 19, 2020, Exide has entered into an agreement under which an ad hoc group of the Company’s prepetition noteholders would continue as owners of its EMEA and Asia-Pacific business. The noteholders intend to maintain continued employment of the Company’s workforce in these regions.

“We are gratified to have generated strong interest in our Americas business and delighted to have reached this agreement with affiliates of Atlas, an investor with significant operational and financial resources and a proven track record of building strong, high-performance organizations,” said Tim Vargo, Chairman, President, and Chief Executive Officer of Exide Technologies. “Under new ownership, our Americas business will continue delivering high quality energy storage solutions and service to our customers, maximizing future growth and profitability.”

“We are very excited about acquiring the assets of Exide’s Americas business,” said Jacob Hudson, Managing Partner of Atlas Holdings. “We believe that, with a clean start and a strong balance sheet, the Exide Americas business has a very bright future, and we are looking forward to investing in its growth.”

The Agreements will be subject to Court approval, currently scheduled for a hearing on August 6, 2020, as well as customary closing conditions.

Additional Information and Advisors

Additional information about Exide’s Chapter 11 proceeding can be found at Vendors with questions can visit, call a dedicated hotline at 877-429-4840 between the hours of 9 AM and 6 PM Eastern, Monday through Friday, or email

Weil, Gotshal & Manges LLP is serving as legal counsel, Houlihan Lokey Capital Inc. is serving as investment banker, and Ankura Consulting Group, LLC is serving as financial advisor, in each case, to Exide.

Winston & Strawn LLP is serving as legal counsel to Atlas.

About Atlas Holdings

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 20 platform companies which employ approximately 20,000 associates at more than 150 facilities worldwide. Atlas operates in sectors such as aluminum processing, automotive, building materials, capital equipment, construction services, food manufacturing and distribution, packaging, paper, power generation, pulp, supply chain management and wood products. Atlas’ companies together generate more than $5 billion dollars in revenues annually. For additional information, please visit

About Exide Technologies

Exide Technologies LLC was founded in 1888 and headquartered in Milton, Georgia, Exide. It is a stored electrical energy solutions company and a producer and recycler of lead-acid batteries. Across the globe, Exide batteries power cars, boats, heavy duty vehicles, golf carts, powersports, and lawn and garden applications. Its network power solutions deliver energy to vast telecommunication networks in need of uninterrupted power supply.

Exide Technologies first sought Chapter 11 protection (Bankr. Del. Case No. 02-11125) on April 14, 2002, and exited bankruptcy two years after. Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland & Ellis, and James E. O’Neill, Esq., at Pachulski Stang Ziehl & Jones LLP, represented the Debtors in their successful restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No. 13-11482) on June 10, 2013 and emerged from bankruptcy in 2015. In the 2013 case, Exide tapped Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang Ziehl & Jones LLP as counsel; Alvarez & Marsal as financial advisor; Sitrick and Company Inc. as public relations consultant. The official creditors committee retained Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co-counsel, and Zolfo Cooper, LLC served as its bankruptcy consultants and financial advisors.

Exide Holdings, Inc., and its affiliates, including Exide Technologies LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-11157) on May 19, 2020. Exide Holdings was estimated
to have $500 million to $1 billion in assets and $1 billion to $10 billion in liabilities.

In the newest Chapter 11 case, Weil, Gotshal & Manges LLP is serving as legal counsel to Exide, Houlihan Lokey is serving as investment banker, and Ankura is serving as financial advisor.
Richards, Layton & Finger, P.A., is the local counsel. Prime Clerk LLC is the claims agent, maintaining the page

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