Stryten adds $650M term loan for C&D Trojan acquisition

Stryten Energy makes batteries and related control systems for customers ranging from vehicle and warehouse operators to data centers and the military. Silver Point Capital’s Direct Lending business led a $650 million term loan supporting Stryten’s acquisition of C&D Technologies and Trojan Battery, collectively C&D Trojan.

Silver Point announced the financing on Oct. 7 and said it syndicated the loan to existing and new lenders. Stryten completed the acquisition on Oct. 1. The lender previously led a $400 million financing for Stryten in 2024, making the latest transaction an expansion of an existing credit relationship.

Stryten’s base business already covers several ways energy storage gets used. It manufactures lead, lithium and vanadium redox-flow batteries, plus intelligent chargers and energy-performance software. Those systems go into cars, trucks and rail equipment, power material-handling fleets in warehouses and distribution centers, and provide stored power for microgrids, utilities and defense applications.

The acquired brands add two distinct jobs. C&D’s stationary batteries provide standby power at data centers, telecom networks, utilities and other sites where an outage can interrupt essential operations. Trojan’s specialty motive batteries power golf carts, low-speed electric vehicles, aerial lifts, floor-cleaning machines, recreational vehicles and boats.

Atlas Holdings, which owns Stryten, says the combined business operates 18 manufacturing and component facilities across the United States, Mexico and China and employs approximately 4,800 people. It will operate under the Stryten Energy name while retaining C&D Technologies and Trojan Battery as product brands.

Stryten said when it announced the deal in July that the combination would support an expansion of absorbent glass mat battery capacity. Those advanced lead batteries serve start-stop and hybrid vehicles as well as backup-power applications for data centers and telecom networks.