November 17, 2024: Lead and lithium battery manufacturer, the Sunlight Group, has acquired the remaining 45% stake in its French subsidiary.

Sunlight said on October 29 that acquiring full control of the Triathlon subsidiary strengthened its position in France, which it described as the second-largest industrial battery market in Europe, valued at over €250 million ($264 million) annually.

Arnaud Bondelu has been appointed as the new MD of the French subsidiary, succeeding Patrick Kuster, who is stepping down after 15 years of successfully leading the company.

Sunlight said Kuster will continue to provide support over the next four months to ensure a smooth transition.

Bondelu has extensive experience in the energy storage market, with a strong track record in strategic planning, business development, and risk management, Sunlight said.

Lambros Bisalas, Sunlight Group CEO, said the takeover was an important step in one of the most exciting battery markets in Europe, offering high growth potential.

“This move also reinforces our commitment to supporting the talented team in France, ensuring a smooth transition and long-term success in the French market.”

Bondelu said: “France is a key market for Sunlight Group and is currently undergoing a dynamic development, in particular when it comes to the adaptation of the lithium ion technology.”

The French deal comes just over a year after Sunlight acquired 100% ownership of Triathlon in Germany.