December 22, 2022: The Sunlight Group is to acquire a controlling stake in Germany-based batteries peer Triathlon Holding, in a move Sunlight said will create a lead and lithium powerhouse to increase the firms’ global sales in existing and new markets.
Greece-headquartered Sunlight revealed on December 8 that the acquisition agreement was signed on December 5 by its CEO Lampros Bisalas (pictured, right) and Triathlon CEO Martin Hartmann — who will remain in post in charge of daily operations and expansion.
Under the terms of the deal, which must still be approved by anti-trust authorities, Triathlon’s former majority shareholder, Geraer Batterie Dienst, will retain a 49% stake.
Sunlight said both companies currently have a combined turnover of more than €1 billion ($1 billion). Together, they have more than 35 facilities including manufacturing plants, warehouses, R&D hubs and sales centres in 12 countries.
The companies, which have business links dating back 20 years, will continue with their “autonomous commercial operations” but will also jointly maximize activities to increase their share of the global batteries market, Sunlight said.
In addition to its plant in Bavaria, Triathlon operates two production and R&D facilities in Germany, as well as a lead acid batteries assembly plant in Dallas.
Triathlon’s international operations extend to Australia, the UK and France, with sales and services offices for batteries, chargers, and accessories.
CEO Hartmann said the 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”.
Sunlight said the acquisition would pave the way “for increased global sales, reduced operational costs though collaboration across various activities and growth opportunities in new markets”.
The Triathlon deal is Sunlight’s latest major announcement since August 1, when the group finalized its acquisition of BMG Energy’s 22% stake in Sunlight European Battery Assembly and Sunlight Italy, both based in Verona.
Previously, on June 24, Sunlight announced the receipt of €275 million funding from Greek banks to support its expansion of lead and lithium production and R&D.