February 9, 2023: The Sunlight Group said on February 7 it had completed its acquisition of a controlling stake in Germany-based batteries peer Triathlon Holding.
Sunlight said last December that the deal would create a lead and lithium batteries powerhouse to increase the firms’ global sales in existing and new markets.
The move has since been cleared by competition regulators and Sunlight now has a 51% stake in Triathlon, with former majority shareholder, Geraer Batterie Dienst, retaining 49%.
Sunlight said the deal “creates a true market leader, transforming the landscape of batteries for off-road mobility and energy storage systems for renewable energy”.
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 previously.
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.
Photo: Sunlight CEO Lampros Bisalas (right) and Triathlon CEO Martin Hartmann