OM Group to Acquire Defense Battery Supplier EaglePicher Technologies for $171.9M

OM Group in Cleveland, OH agreed to acquire EaglePicher Technologies, a Joplin, MO-based manufacturer of batteries, battery management systems and energetic devices for the defense, aerospace, and medical industries, from EaglePicher Corp. for $171.9 million. In fiscal year 2009, EaglePicher recorded revenues of approximately $125 million, of which approximately 60% came from its defense business, approximately 31% from its aerospace business, and the balance from its medical and other businesses… EaglePicher Technologies supplies batteries to the US military for missiles, submunitions, mines, sonobuoys, fuzes and aerospace power backup. The company is also a major supplier of energetic devices and pyrotechnic components for US military application. It supplies in excess of 1,000 different part numbers to 250 military and commercial customers. The proposed transaction, which is subject to customary closing conditions, is expected to close by the middle of the first quarter of 2010. The transaction will be funded by OMG’s existing cash and credit facility.