After the initial agreement for the acquisition of 51% of Triathlon by Sunlight, the two organizations are unified in a single group and champion of the sector
ATHENS, Greece and MUNICH, Germany, July 19, 2023 /PRNewswire/ -- Sunlight Group Energy Storage Systems ( Sunlight Group), a member of the Olympia Group and a global technology company specializing in innovative industrial mobility batteries for the intralogistics industry and Energy Storage Systems for renewables, announces that it has acquired 100% of the share capital of its subsidiary Triathlon Holding GmbH (Triathlon).
The agreement follows the acquisition of 51% of Triathlon announced at the beginning of 2023, which involved the autonomous commercial operation of the two companies, as well as the exploration and use of synergies. Triathlon's 100% ownership has the potential to maximize such synergies much faster to the benefit of Sunlight Group's customers, shareholders, stakeholders and more than 3,200 employees.
More specifically, the unified and significantly strengthened Sunlight Group can now use its joint assets and resources to become an industry champion and make the most of available opportunities as they arise, both in industrial mobility batteries and in the fast-growing sector of automotive. energy storage for renewable energy, on which the company places a strong focus.
The acquisition agreement will also streamline production facilities operated around the world under a single management team, enabling better service for customers, regardless of their location or customer base. Furthermore, it will accelerate innovation in the critical lithium-ion technology sector, where Sunlight Group has strong capabilities and invests significant resources to further develop.
The management of the unified group is also strengthened in the context of the agreement, as the founder and CEO of the Triathlon Group, Martin Hartmann, becomes a minority shareholder of the Sunlight Group and a member of its Board of Directors. Hartmann will also play a key leadership role in the Sunlight Management Team as the new Group Commercial Director for Industrial Mobility, reporting directly to Sunlight Group CEO Lampros Bisala.
Commenting on the developments, Gordon Riske, Sunlight Group Chairman of the Board, stated: "On behalf of the Board of Directors, I would like to welcome Martin Hartmann to the team. I am sure he will make a great contribution with his invaluable experience and insight, and we look forward to working with him, aiming for optimal growth of the Sunlight Group at all levels."
Lampros Bisalas, CEO of Sunlight Group and member of the Executive BoD, added: "I am delighted that a partnership dating back more than 20 years is coming to a successful conclusion. Martin's wealth of experience in our industry and, of course, In fact, in markets that are very important to us, it is priceless. There are only gains to be reaped from our vision of One Group, destined to lead in the sectors in which we are active."
Martin Hartmann commented on this new chapter at Sunlight Group: "I would like to thank the Sunlight Group from the bottom of my heart for this warm welcome. I cannot wait to meet all the members of the team and offer my best from my new position to support our customers and employees.
The unified Sunlight Group is poised to play a global leadership role in its sectors, with a primary focus on the European and US markets, where it operates a total of 15 production units. The organization will build on its extensive investments as well as scalable production and innovation capabilities in lead-acid and lithium-ion batteries, contributing to decarbonisation, energy transition and security. And finally, the new configuration significantly improves the company's position to pursue its ambitions to establish, on European soil, a 20 GWh Gigafactory producing lithium-ion battery cells, exclusively for the industrial mobility and systems sectors. of energy storage.
About Sunlight Group Energy Storage Systems
Sunlight Group, with more than 30 years of experience in the production of lead-acid and lithium-ion batteries, occupies a leading position in motive power batteries for intralogistics, and specifically for electric forklifts, as well as Storage Systems. Power for on-grid, off-grid and residential applications. Sunlight supplies the international market with innovative and cost-effective products, manufactured and assembled at its state-of-the-art facilities in Greece, Italy, Germany, Israel and the United States, and distributed directly or through a network of authorized partners to more than 115 countries. It also operates sales offices and provides customer support, after-sales and warehousing services in the countries where it has production activities, as well as in Romania, the Netherlands, Denmark, Luxembourg, France, the United Kingdom and Australia.
With a specialized team of scientists in dedicated R D centers and more than 15 years of experience in lithium-ion innovation, Sunlight Group invests in emerging technologies to support the sustainable development of software-based integrated energy storage solutions. The company combines its circular economy business model, facilitated by running one of the most advanced recycling units in Europe, with a technology-agnostic approach and data-driven insights to develop environmentally friendly storage solutions for the sectors of industrial mobility, leisure mobility and ESS. Solutions that make sustainable energy more accessible and reliable, supporting the energy transition and security. As a proud participant in the United Nations Global Compact, Sunlight Group is committed to aligning strategies and operations with universal principles on human rights, labour, the environment and anti-corruption; and take actions that further social objectives.
Sunlight is a member of the Olympia Group, an international investment group with a diversified business ecosystem spanning 8 countries.
For additional information about Sunlight Group, visit:
www.the-sunlight-group.com/en/global
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