Exide Technologies Successfully Concludes Auction Process for Americas Business and Designates an Affiliate of Atlas Holdings as Successful Bidder

As Previously Announced, EMEA and Asia-Pacific Business to be Acquired by Prepetition Lenders

MILTON, Ga., July 23, 2020 -- Exide Technologies, LLC (“Exide” or the “Company”), a global provider of stored energy solutions, today 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 (“Atlas”), 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 Automotive, recycling and 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 exide.com/2020-restructuring. Vendors with questions can visit https://cases.primeclerk.com/Exide2020/, call a dedicated hotline at 877-429-4840 between the hours of 9 AM and 6 PM Eastern, Monday through Friday, or email [email protected].

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 Exide Technologies

For more than 130 years, Exide Technologies, LLC (exide.com) has been Powering the World Forward as a global provider of stored electrical-energy solutions for the Automotive and Industrial markets. Headquartered in Milton, Georgia, Exide operates in 80 countries with more than 8,000 employees. Exide produces a range of battery and energy storage systems and specialty applications for the Automotive, Energy Solutions and Motion markets and industries including agricultural, automotive, electric, light and heavy-duty truck, marine, materials handling, military, mining, power-sport, railroad, security, telecommunications, utility and uninterruptible power supply (UPS), among others. As one of the world’s largest secondary recyclers, the company is committed to environmental sustainability.


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 www.atlasholdingsllc.com.


Melissa Floyd
[email protected] 
(678) 566-9927


Jeremy Fielding / Nathan Riggs
Kekst CNC
(212) 521-4858 / (212) 521-4804



David Filippelli
[email protected]
(203) 983-7909


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