BAE Holding CEO leads consortium to take over Moll Batterien

BAE Holding CEO leads consortium to take over Moll Batterien

BAE Holding CEO leads consortium to take over Moll Batterien 150 150 Batteries International

April 23, 2021: Moll Batterien, one of Europe’s best known family lead-acid battery businesses, has been taken over by a consortium of investors led by the CEO of BAE Holding Jan IJspeert, Moll announced on March 30. IJspeert is also the CEO of BAE Batterien.

In a statement, the new owner said all 260 jobs would be saved.

Moll Battery — or Akkumulatorenfabrik Moll — was founded by Peter Moll 75 years ago and later taken over by his daughter, Gertrud Moll-Möhrstedt. The company had been struggling because of the coronavirus pandemic and resulting lockdowns, and exactly a year before this announcement had been forced to file for insolvency.

Despite her determination to find a way through and the unwavering support of her employees, business partners, customers and suppliers, in July Moll-Möhrstedt admitted the firm had begun talking to potential investors.

At the time, she told Batteries International: “It is not possible to predict whether and when sales will recover. It is highly probable that even if automobile production resumes, it will take many months, perhaps even years, for sales to return to the level seen at the beginning of the year.”

She did not respond to BESB’s requests for comment about the IJspeert take-over.

BAE Batterien has been producing lead-acid batteries for automotive and industrial applications since 1899. Its batteries are sold in PV telecoms, utilities, railways, UPS systems and motive power applications.

“The restructuring of an internationally operating automotive supplier and sale to a strategic investor — during the pandemic — represents an enormous challenge for all involved,” said attorney-at-law Jürgen Wittmann.

“I would like to thank the workforce for the dedicated commitment shown throughout the entire period of insolvency, and I know the new company is in the best possible hands.”

The official economic transfer will take place on May 1.