Sygnus Capital Limited played a crucial role in Tropical Battery’s strategic acquisition of Rose Electronics Distributing Company (Rose Batteries) located in San Jose, California. As the lead arranger, Sygnus Capital arranged the entire financing for the acquisition.
The acquisition of Rose Batteries marks a significant achievement for Tropical Battery as it enables the company to enhance its technological capabilities and innovation potential, ultimately leading to improved financial performance.
The acquisition highlights Sygnus’ dedication to supporting the growth of medium-sized businesses in the Caribbean, through sustainable and impactful investments.
Moreover, this move solidifies Sygnus’ partnership with Diverze Assets, the holding company of Tropical Battery.
Sygnus expressed pride in facilitating the acquisition of overseas assets by a Jamaican company, which will in turn bolster foreign exchange inflows into the island.
Founded in 1963, Rose Batteries is a manufacturer of specialized batteries for high-value industries requiring critical power, including healthcare and aerospace. The company has built a solid reputation for the customized design and assembly of highly reliable batteries providing essential power and charging solutions to a broad range of B2B customers.
The company’s strength lies in its ability to cater to original equipment manufacturers (OEMs), offering customised solutions that supply continuous power in challenging environments. Rose’s approach in providing tailor-made contract manufacturing solutions has redefined industry standards and garnered a loyal customer base supporting stable, recurring revenue streams.
The acquisition of Rose Batteries represents a significant milestone in Tropical Battery’s strategy of diversification into new complementary product lines, market segments and geographies, and reaffirms the company’s commitment to technological innovation and growth in the global energy market.
The acquisition was completed through Tropical’s US subsidiary Tropical Battery USA LLC. The purchase price is subject to strict non-disclosure restrictions; however the price significantly exceeds 50 per cent of the market capitalisation of Tropical.
Following the acquisition of Dominican Republic-based KAYA Energy Group in 2023, and now, the acquisition of Rose, Tropical Battery will focus on integrating and harmonizing these three dynamic organizations to leverage synergies, optimize costs, and explore new growth opportunities across various markets.
Earlier this month, Alexander Melville, Managing Director of Tropical Battery, commented on the news of their recent acquisition. Melville stated that the acquisition is a testament to their commitment to transform Tropical Battery into a multinational organization that leads the way in innovative growth in emerging segments. Their focus is on driving the transition towards more sustainable energy solutions.
“The integration of Rose Batteries will position the Tropical Battery group of companies to offer even greater value to our customers and stakeholders than ever before. We are reinvigorated by this next chapter in our growth and passionate about enabling a more sustainable, technologically driven future in the energy sector while strengthening our financial performance with the support of pioneers in the Caribbean financial services ecosystem like Sygnus Capital, which served as lead arranger in this transaction.”
