Sunlight Group Energy Storage Systems announced plans to acquire 51% of the share capital of Triathlon Holding GmbH, transforming the landscape of industrial batteries for the off-road mobility sector (electric vehicles used in intralogistics, robotics and automated guided vehicles), and the energy storage sector for renewable energy applications.
“At Sunlight, we’ve been stating that our goal is to become a global leader in motive power batteries for the intralogistics sector and energy storage systems for renewables, and today’s agreement is a decisive step in that direction,” says Lampros Bisalas, CEO of Sunlight Group. “Today, we partner with a company that shares our drive and values, our passion for innovation and R&D, and our vision for global reach. Sunlight and Triathlon have been long-standing partners in both good times and challenging ones, and this is an historic moment for both of us.”
“With full support of our vision by our shareholder, Olympia Group, the focus of our acquisition strategy has been to leverage synergies across all possible activities, while enabling the companies to follow their independent growth plans, faster and more efficiently. I personally have great trust and admiration for Martin [Hartmann, Triathlon CEO] and his very talented team for everything they’ve achieved and I’m excited for what they have in store for the future. I’m very much looking forward to working with Martin and the entire Triathlon team and pursue together the immense opportunities we see in the markets,” Bisalas adds.
From PR Newswire:
- The combined organization is set to pursue a leadership role, mainly in Europe and the United States, contributing to decarbonization and energy security, building on scalable production and innovation capabilities, in both lead-acid and lithium-ion batteries.
- Triathlon’s former major shareholder, Geraer Batterie Dienst GmbH, shall retain 49% of the company and Martin Hartmann, CEO of Triathlon Holding, will remain in the position of CEO.
- The two companies will continue their autonomous commercial operations and partner to maximize efforts to service the global market, while leveraging synergies in both current and new sectors.
“Sunlight has been a reliable companion to Triathlon's dynamic growth path in recent years. Our partnership has always been based on trust, open communication, shared values, and passion for customer excellence. For Triathlon this agreement means extended access to product solutions, strong manufacturing capabilities, technological synergies, and additional funds which will enable us to execute our ambitious growth plans,” says Hartmann.