{"id":742685,"date":"2023-03-27T07:04:20","date_gmt":"2023-03-27T11:04:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/winnebago-industries-to-acquire-premier-lithium-ion-battery-solutions-provider-lithionics-battery\/"},"modified":"2023-03-27T07:04:20","modified_gmt":"2023-03-27T11:04:20","slug":"winnebago-industries-to-acquire-premier-lithium-ion-battery-solutions-provider-lithionics-battery","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/winnebago-industries-to-acquire-premier-lithium-ion-battery-solutions-provider-lithionics-battery\/","title":{"rendered":"Winnebago Industries to Acquire Premier Lithium-ion Battery Solutions Provider Lithionics Battery"},"content":{"rendered":"<h2>\nAdvances Winnebago Industries\u2019 strategic innovation and electric solutions platforms with new technological and engineering capabilities<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">EDEN PRAIRIE, Minn., March  27, 2023  (GLOBE NEWSWIRE) &#8212; Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, today announced that it has reached a definitive agreement to acquire Lithionics Battery (\u201cLithionics\u201d), a lithium-ion battery solutions provider to recreational equipment and specialty vehicle markets. The addition of Lithionics will provide Winnebago Industries with enhanced technological and engineering capabilities to offer consumers more differentiated products with innovative electrical solutions, as well as bring strategic sourcing benefits and secure a critical area of its supply chain. Terms of the deal were not disclosed.<\/p>\n<p>Founded in 2010, Lithionics is a provider of advanced battery solutions that deliver \u201chouse power,\u201d supporting internal electrical features and appliances for a variety of outdoor products including RVs, boats, specialty and other low-speed vehicles, as well as other industrial applications. Lithionics\u2019 innovation in house power solutions will continue to advance important outdoor recreation product features for consumers, including extending time off-the-grid, improving reliability, reducing noise and generating fewer emissions.\u00a0\u00a0<\/p>\n<p>Lithionics\u2019 premium lithium-ion batteries leverage voltage stability, long life expectancy, lighter construction and the highest energy densities possible to provide safe, efficient and cost-effective electrification solutions. The company\u2019s best-in-class battery technology is differentiated by its proprietary management software and certifications from Underwriters Laboratories Solutions (\u201cUL\u201d), a leader in safety accreditation and testing. Lithionics currently serves a critical role in the supply chains of Winnebago Industries\u2019 RV brands, providing trusted battery solutions to Winnebago and Newmar. Lithionics is led by Founder and CEO Steve Tartaglia and is headquartered in Clearwater, Florida.<\/p>\n<p>\u201cThe addition of Lithionics enhances Winnebago Industries\u2019 ability to develop unique and diverse battery solutions across our portfolio, advancing our overall electrical ecosystem, driving organic growth and supply chain security, reinforcing our technological competitive advantage and allowing us to capitalize on consumer preferences for fully immersive, off-the-grid outdoor experiences,\u201d said Winnebago Industries President and Chief Executive Officer Michael Happe. \u201cLithionics\u2019 talented employees bring a unique familiarity with our business and the broader outdoor recreation space, as well as share a commitment to quality and safety that fits seamlessly with our culture of excellence. We see significant opportunity to expand the use of their efficient energy solutions within our own portfolio, to continue to grow relationships with other existing customers and to explore new market applications. Through these applications, we expect Lithionics will enhance Winnebago Industries\u2019 margin profile over the near- and long-term and create value for our shareholders, employees and consumers. We look forward to working with Steve and his team to integrate their unique platform of electrical capabilities.\u201d<\/p>\n<p>Steve Tartaglia added, \u201cBy combining Lithionics\u2019 differentiated battery systems and Winnebago Industries\u2019 strong brands and innovation expertise, we will create a range of technologically superior products that will change the way people experience the outdoors \u2013 allowing them to bring the comfort of electricity with them wherever they travel. The entire team at Lithionics looks forward to joining forces with Winnebago Industries to turn this vision into reality.\u201d<\/p>\n<p>After the transaction closes, which is expected within Winnebago Industries\u2019 third fiscal quarter, subject to customary closing conditions, Mr. Tartaglia and the current Lithionics management team will continue to lead the business from its headquarters in Clearwater, Florida. Lithionics will operate as a wholly owned subsidiary of Winnebago Industries.<\/p>\n<p>J.P. Morgan Securities LLC is serving as exclusive financial advisor to Winnebago Industries and Faegre Drinker Biddle &amp; Reath is serving as legal advisor.<\/p>\n<p>\n        <u>About Winnebago Industries<\/u><br \/>\n        <br \/>Winnebago Industries, Inc. is a leading North American manufacturer of outdoor lifestyle products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds quality motorhomes, travel trailers, fifth-wheel products, outboard and sterndrive powerboats, pontoons and commercial community outreach vehicles. Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota and Florida. The Company&#8217;s common stock is listed on the New York Stock Exchange and traded under the symbol WGO. For access to Winnebago Industries&#8217; investor relations material or to add your name to an automatic email list for Company news releases, visit http:\/\/investor.wgo.net.<\/p>\n<p>\n        <u>About Lithionics Battery<\/u><br \/>\n        <br \/>Lithionics Battery is a leading provider of lithium-ion batteries to the recreational equipment and specialty vehicle markets. Using a proprietary Battery Management System called NeverDie\u00ae Technology, it offers a broad range of standard and custom-designed battery configurations delivering \u201chouse power,\u201d supporting internal electrical features and appliances for a variety of outdoor products for the marine and recreational vehicle markets. Other markets served include both house power and traction power for low-speed electric vehicle markets, as well as cell towers and industrial applications requiring ruggedized power systems. Lithionics Battery operates a modern factory using technology that was designed and built in-house for advanced assembly. Key proprietary technologies include source code and firmware that in turn has created unique quality assurance and safety testing systems, validated by certifications from Underwriters Laboratories Solutions (\u201cUL\u201d), a leader in safety accreditation and testing. Lithionics Battery was founded in 2010 and is headquartered in Clearwater, Florida.<\/p>\n<p>\n        <u>Forward-Looking Statements<\/u><br \/>\n        <br \/>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve potential risks and uncertainties. A number of factors could cause actual results to differ materially from these statements, including, but not limited to risks relating to the Company\u2019s proposed acquisition of Lithionics Battery, including the possibility that the closing conditions to the contemplated transaction may not be satisfied or waived; delay in closing the transaction or the possibility of non-consummation of the transaction; the occurrence of any event that could give rise to termination of the purchase agreement; risks inherent in the achievement of expected financial results; risks that the efforts to consummate the transaction may be disruptive to the Company or Lithionics Battery or their respective management teams; the effect of announcing the transaction on Lithionics Battery\u2019s ability to retain and hire key personnel and maintain relationships with customers, suppliers and other third parties; risks related to integration of the two companies and other factors. Additional information concerning other risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company&#8217;s filings with the\u00a0Securities and Exchange Commission\u00a0(SEC) over the last 12 months, copies of which are available from the\u00a0SEC\u00a0or from the Company upon request. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this press release or to reflect any changes in the Company&#8217;s expectations after the date of this press release or any change in events, conditions or circumstances on which any statement is based, except as required by law.<\/p>\n<p>\n        <u>Contacts<\/u><br \/>\n        <br \/>Investors: Ray Posadas<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XTHV9Hpv9zmgI6wVPfo7LPGb7lcq4NlfLzicP-YErJAxfpRuNv1_NH5ZekqWBLoPnEIqMSBV4LiguRkBFKiuw_71PKKpF2FiDFjwsXOpzYw=\" rel=\"nofollow noopener\" target=\"_blank\">ir@winnebagoind.com<\/a><\/p>\n<p>Media: Daniel Sullivan<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MUZD3RxegxO7dV3FIJMTcnoWnaSdQvzCojMAGbDlKfqWMyuDVAL2xOeRCiCwfJLpu0uxR0Ud_p0YNH-qUZUuOBKF0yERK6buSyX_yTsMW_M=\" rel=\"nofollow noopener\" target=\"_blank\">media@winnebagoind.com<\/a><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc5NTY1OSM1NDkyNDUxIzIwMDU3ODQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/ZTE5YWRiMmUtODE5ZS00MjU5LTgwNzItZTc5YWQ0YjFiNzhjLTEwMTczNTc=\/tiny\/Winnebago-Industries-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Advances Winnebago Industries\u2019 strategic innovation and electric solutions platforms with new technological and engineering capabilities EDEN PRAIRIE, Minn., March 27, 2023 (GLOBE NEWSWIRE) &#8212; Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, today announced that it has reached a definitive agreement to acquire Lithionics Battery (\u201cLithionics\u201d), a lithium-ion battery solutions provider to recreational equipment and specialty vehicle markets. The addition of Lithionics will provide Winnebago Industries with enhanced technological and engineering capabilities to offer consumers more differentiated products with innovative electrical solutions, as well as bring strategic sourcing benefits and secure a critical area of its supply chain. Terms of the deal were not disclosed. Founded in 2010, Lithionics is a provider of advanced battery solutions that &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/winnebago-industries-to-acquire-premier-lithium-ion-battery-solutions-provider-lithionics-battery\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Winnebago Industries to Acquire Premier Lithium-ion Battery Solutions Provider Lithionics Battery&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-742685","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Winnebago Industries to Acquire Premier Lithium-ion Battery Solutions Provider Lithionics Battery - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/winnebago-industries-to-acquire-premier-lithium-ion-battery-solutions-provider-lithionics-battery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Winnebago Industries to Acquire Premier Lithium-ion Battery Solutions Provider Lithionics Battery - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Advances Winnebago Industries\u2019 strategic innovation and electric solutions platforms with new technological and engineering capabilities EDEN PRAIRIE, Minn., March 27, 2023 (GLOBE NEWSWIRE) &#8212; Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, today announced that it has reached a definitive agreement to acquire Lithionics Battery (\u201cLithionics\u201d), a lithium-ion battery solutions provider to recreational equipment and specialty vehicle markets. The addition of Lithionics will provide Winnebago Industries with enhanced technological and engineering capabilities to offer consumers more differentiated products with innovative electrical solutions, as well as bring strategic sourcing benefits and secure a critical area of its supply chain. Terms of the deal were not disclosed. 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(NYSE: WGO), a leading outdoor lifestyle product manufacturer, today announced that it has reached a definitive agreement to acquire Lithionics Battery (\u201cLithionics\u201d), a lithium-ion battery solutions provider to recreational equipment and specialty vehicle markets. The addition of Lithionics will provide Winnebago Industries with enhanced technological and engineering capabilities to offer consumers more differentiated products with innovative electrical solutions, as well as bring strategic sourcing benefits and secure a critical area of its supply chain. Terms of the deal were not disclosed. 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