June 9, 2023: The Sunlight Group acquired a 65% stake in Portuguese business partner Logbatind on June 7, the companies have announced.
Logbatind, which specializes in the sale of industrial batteries and chargers, also provides assembly, repair, and maintenance services.
Lead and lithium battery manufacturer Sunlight said the move solidified its presence in Iberia, where its Sunlight Baterías España subsidiary operates.
Sunlight CEO Lampros Bisalas (pictured) said: “We aim to grow our lead acid market share in the area and, more importantly, establish ourselves as turnkey providers of quality lithium products for industrial mobility and energy storage systems.”
The companies have had a business relationship since 2005.
Carlos Jantarada will continue as MD of Logbatind and will also become executive director of Sunlight Baterías España.
Meanwhile, Sunlight and Logbatind will continue to pursue their respective individual commercial operations while collaborating across the Iberian market.
The Logbatind deal comes after a series of recent business expansion moves by Sunlight.
On February 14, Sunlight announced it was taking a 51% stake in Israeli Industrial Batteries Energy Storage Systems.
Earlier that month Sunlight completed its acquisition of a controlling stake in Germany-based batteries peer Triathlon Holding.
In May, Sunlight’s CEO said the group would further invest to ramp up lead battery recycling at its operation in northeastern Greece.