Manbat has been sold to lead giant Eco-Bat Technologies, CAT has learned.
The family-owned Varta distributor and owner of the Numax battery brand was acquired by the Matlock-based company in August for an undisclosed sum.
Eco-Bat is thought to produce a quarter of Europe’s recycled lead.
The decision to sell the majority stake in Manbat comes after the company embarked on an ambitious Â£20 million growth plan earlier this year.
The move will allow these long-term business goals to be accelerated to the short to medium term, a spokesman told CAT.
It will also see executive chairman Roger Pemberton taking a step back from the company to pursue retirement plans, although he retains a seat on the Board.
Manbatâ€™s existing management team, led by managing director Steve Sheppard, will remain in place.
Since January, Manbat has signed an official supply deal with Johnson Controls for Varta, expanded its presence in the leisure battery market, secured the exclusive rights to the Lucas battery name and moved its Sunderland depot to larger premises.
More detail and analysis coming soon…