Altor to acquire Northstar Battery Company


Jul 05 2007

The rapidly growing, global manufacturer of high performance batteries and standby power systems, NorthStar Battery Company, has entered into an agreement to be acquired by the Nordic private equity fund Altor Fund II.

NorthStar, which was founded in 2000, has rapidly become one of the leading global producers of high performance, lead-acid batteries and has developed a strong OEM offering of standby power systems through its SiteTel division. The Company employs some 400 persons worldwide with operations in Springfield (Missouri, US), Stockholm (Sweden) and Shanghai (China). Revenues for 2007 are forecasted to exceed USD 200 million.

With mobile telecom infrastructure equipment as its current main market, NorthStar serves some of the world’s leading telecom OEMs and operators. Through its SiteTel division, headquartered in Sweden, NorthStar also acts as a turnkey provider of standby power systems, providing design and sourcing, assembly and distribution logistics.

“We look forward to continue the development of NorthStar together with Altor. We have a strong foundation to build on and we will now be able to accelerate our global expansion”, says Larry Hill, CEO of NorthStar.

“NorthStar has built a strong platform for future growth based on its state-of-the-art manufacturing technology. We look forward to supporting management in the continued development of NorthStar and SiteTel and will actively look to expand the company’s global operations both through greenfield investments and as an active participant in further industry consolidation”, says Harald Mix, Partner of Altor Equity Partners.

Goldsmith Agio Helms acted as exclusive advisor to NorthStar for the transaction.
The deal is subject to customary regulatory approval.

About NorthStar:
NorthStar Battery Company is a global manufacturer of high-performance, lead-acid batteries and related standby power systems for industrial applications in the telecom, commercial, and other specialty end markets. The Company was founded in June 2000 by a team of battery industry veterans to create the most world’s most advanced manufacturer and marketer of industrial batteries and related power systems.
For further information on the NorthStar please visit:

About Altor
The Altor funds (Altor) are private equity funds comprising the Altor 2003 Fund with EUR 650 million in capital and Altor Fund II with EUR 1,150 million in capital. It is advised by Altor Equity Partners with offices in Oslo and Stockholm. Altor focuses on Nordic investments with enterprise value ranging from SEK 500 million to SEK 4 billion with value creation opportunities based on growth, strategic re-positioning and operational improvements. Altor Equity Partners has 25 employees, highly qualified and experienced in supporting companies through the change process. Since its inception, Altor investments include Aco Hud (exited in 2004), Lindorff, Dynapac, Ability Group ASA (listed on Oslo Stock Exchange July 2006), Relacom, Ferrosan, Aalborg Industries, Meyn, PaloDEx, Navico (Simrad and Lowrance), Byggmax, Nimbus Boats, Scandpower, PIAB and Dustin.

Press contact

Tor Krusell

Head of Communications

+46 705 43 87 47



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