Continental Batteries, a portfolio company of Incline Equity Partners, has acquired Battery Joe and Battery Solutions.
Continental’s aftermarket batteries are distributed to the automotive, commercial, golf, marine and industrial markets. The company provides on-premise delivery to customers in major cities, as well as to those in regional and rural areas through its multi-location branch network. Continental was founded in 1932 and is headquartered in Dallas.
“We are proud to have become the acquirer of choice in the aftermarket battery distribution industry, having now completed 16 acquisitions in just under two years,” said Eric Royse, president and chief executive officer of Continental. “Our value proposition to business owners remains strong, and we continue to receive a high volume of inbound interest from similar companies.”
Battery Joe is a seller of car, marine, motorcycle, golf cart, cell phone and power tool batteries and also provides battery, phone, and tablet repair services. The company has seven Texas locations in Lubbock, Midland, Amarillo, and Abilene.
Battery Solutions is a Lubbock, Texas-based wholesaler of a range of battery products used in phones, cars, scooters, wheelchairs, and laptops. The company was founded in 2004 and serves customers in west Texas and eastern New Mexico.
These two add-on acquisitions add regional branch locations in west Texas and Continental’s geographic footprint now has eighty-one locations across nineteen states, up from twenty-two locations across seven states when Incline acquired the business in December 2017.
“We are pleased with the stability the company showed through the recent market disruption, allowing us to continue to push forward on the acquisition strategy,” said John Morley, a partner with Incline. “In addition to providing significant geographic expansion, these two acquisitions have strengthened Continental’s value to our global manufacturing partners.”
Pittsburgh-based Incline, formed in 2011, is led by its senior partners, Jack Glover, Justin Bertram and Leon Rubinov.
Continental and Incline continue to seek additional acquisitions of North American-based aftermarket battery distributors.
Private Equity Professional | July 22, 2020