Billionaire entrepreneur Al Mann has sold his Sylmar battery technology company, Quallion LLC, for $30 million to EnerSys, an industrial battery maker in Reading, Pa.
Quallion, which Mann launched in 1998 and has 180 employees, makes lithium ion cells and batteries for applications that include medical devices, defense, aviation and space.
"This acquisition provides EnerSys with an entry into the rapidly growing medical device battery markets for both implantable and external devices," EnerSys Chief Executive John D. Craig said in a statement. He added that the combination of the two companies also will make EnerSys the largest domestic provider of battery technology to the space industry.
EnerSys, which announced the deal late Monday, is expected to keep Quallion in Sylmar, a Quallion spokeswoman said.