Sunlight Group-Triathlon Holding GmbH mega deal transforms industrial batteries landscape

Sunlight Group Energy Storage Systems – a member of Olympia Group and global technology company specializing in integrated and innovative off-road mobility storage systems for intralogistics and Energy Storage Systems for renewables – continues its robust expansion plan via the acquisition of 51% of the share capital of Triathlon Holding GmbH. From this agreement, a true global leader emerges, transforming the landscape of the off-road mobility sector (electric vehicles used in intralogistics, robotics and Automated Guided Vehicles-AGVs), and the energy storage sector for renewable energy applications. The combined organization is set to pursue a leadership role, mainly in Europe and the US, significantly contributing to decarbonization and energy security, building on scalable production and innovation capabilities, in both lead-acid and lithium-ion batteries.

The acquisition agreement was signed on 5 December 2022 in Munich by Lampros Bisalas, CEO of Sunlight Group, and Martin Hartmann, CEO of Triathlon Holding GmbH. Following the clearance of the transaction, pending the relevant approval of the competent competition authorities, Sunlight Group’s acquisition of 51% of the share capital in Triathlon Holding GmbH will be completed. Triathlon’s former major shareholder, Geraer Batterie Dienst GmbH, shall retain 49% of the company and Mr. Hartmann shall remain in the position of CEO, in charge of daily operations and expansion. The two industry-leading companies shall continue their autonomous commercial operations. At the same time, they will partner to maximize efforts to service the global market, while leveraging synergies in both current and new sectors.

Sunlight Group and Triathlon Holding GmbH have a combined turnover of more than €1bn, operate  more than 35 facilities (manufacturing plants and warehousing, R&D hubs, sales, and customer service offices) in 12 countries, and jointly employ 3,050 people around the world. Their cooperation goes back 20 years, and this agreement deepens and further empowers this partnership, creating a true global leader in the batteries sector – especially in the growing market of lithium batteries for industrial applications and energy storage for renewables.

Joining forces for the two companies means extending production capacity, offering a richer portfolio of products and services, as well as wider geographical reach. It also paves the way for increased global sales, reduced operational costs via collaboration across various activities, and growth opportunities in new markets. The customers of the two organizations shall also greatly benefit from this agreement thanks to optimized efficiency, well-positioned distribution networks, and wider after-sales service coverage, production capacity and innovation capability. The latter reflects the focus and dedication of the two companies in Research & Development, where impressive scale effects should be expected from the 200+ highly educated and experienced R&D specialists, engineers and other scientists employed by Sunlight and Triathlon. They are both European champions of high technology and innovation, focusing on building a complete value chain, from cells to complete batteries and integrated systems, transitioning to a fully circular future of regenerative production processes.




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