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East Penn Expands Innovation Investment by Acquiring Majority Share of Navitas Systems

Posted By Marianna Lovo, Monday, August 19, 2019

East Penn is pleased to announce the acquisition of a majority interest in Navitas Systems.
Navitas Systems is a global leader in larger-format lithium battery technology and systems
for heavy-duty commercial/industrial as well as government/defense market segments.

The acquisition will accelerate East Penn’s expansion of its Motive Power battery offering,
as well as its strategic integration into other market segments. This exciting new venture
aligns with East Penn’s existing plans of providing the most robust array of optimized
energy storage system solutions. This will enhance the company’s efforts in completely
meeting the ever-expanding demands of its customers well into the future. 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 their current management team, and both of
their research and manufacturing facilities will remain in Ann Arbor, MI.

“We are delighted to join in this major partnership with East Penn” said Alan ElShafei,
Chairman and Founder of Navitas Systems. “They have earned such tremendous loyalty
from customers and distributors alike, resulting from their caring culture, quality products,
and continued focus on innovation. 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.”

East Penn’s commitment to innovations in lead batteries and other advancements in new
technology has availed the company unique opportunities in many new markets. The
company remains on the forefront of exploring the many possibilities of advanced battery
technology. 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.

About East Penn Manufacturing:
East Penn is a privately-owned company operating the largest single-site battery
manufacturing facility in the world. As a leading global battery provider, the company makes
high quality lead batteries and accessories, as well as offers other energy storage and system
integration solutions, for the automotive, commercial, marine, motive power, UPS, and
telecommunication markets. The company’s quality and environmental systems for its entire
520-acre complex have been certified to ISO 9001:2008, IATF 16949:2016, and ISO
14001:2015 requirements. For more information, visit the company website at
www.dekabatteries.com.

About Navitas Systems:
Navitas Systems is a leader in integrated design, technology development, and manufacturing
of innovative energy-enabled system solutions and energy storage products for commercial,
industrial, and government agency customers. Navitas Systems products range from
customized energy storage solutions for motive, idle-reduction and defense related
applications, along with custom renewable energy integrated power systems. The company is
located in Ann Arbor Michigan, with both a 48,000 square foot R&D, Engineering, and
Manufacturing Center, as well as a new 100,000 square foot Starlifter lithium forklift battery
Manufacturing Center. From advanced R&D, safe/high energy cell design, in-house electronics
manufacturing and cable assemblies, to sophisticated battery pack assembly, Navitas is a
premier source for comprehensive energy and power electronics solutions. More information
on Navitas Systems is available at www.navitassys.com as well as Starlifter lithium forklift
battery information at www.lithiumforkliftpower.com. Follow us on LinkedIn at
www.linkedin.com/company/navitas-systems-llc.

Stifel acted as exclusive financial advisor to Navitas Systems LLC on the transaction.

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