August 30, 2023: The acquisitive Sunlight Group has completed its outright ownership of Germany-based batteries dealer A Müller by acquiring the remaining 49% of shares in the business.
The deal, announced on August 9, follows an initial agreement made last year under which Sunlight took a 51% stake in Müller.
Sunlight CEO Lampros Bisalas said total ownership would help maximize synergies in sales, warehousing and assembly operations — with a focus on expanding supplies of semi-traction batteries on the global market.
Erik Müller will continue as MD of the firm he and his family have built up over nearly 40 years and which will now operate as part of the Sunlight Group.
Sunlight’s latest acquisition announcement comes just weeks after acquiring 100% ownership of Germany-based Triathlon Holding.
In February, the Greece-based international battery player revealed it had taken a 51% controlling stake in Israeli Industrial Batteries Energy Storage Systems.
Then in June, Sunlight announced it had acquired a 65% stake in Portuguese business partner Logbatind, which specializes in the sale of industrial batteries and chargers.