Sunlight Group and Triathlon Holding sign mega deal, transforming global industrial batteries landscape

Sunlight Group acquires 51% of Triathlon Holding; Companies shall continue autonomous commercial operations, while leveraging synergies

ATHENS, Greece, Dec. 8, 2022 /PRNewswire/ -- Sunlight Group Energy Storage Systems (Sunlight Group), a technology company and member of Olympia Group, 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 industrial batteries for 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 this week by Lampros Bisalas, CEO of Sunlight Group, and Martin Hartmann, CEO of Triathlon Holding. Following the clearance of the transaction and relevant regulatory approval, Sunlight Group's acquisition of 51% of the share capital in Triathlon Holding 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. 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 have a combined turnover of more than €1bn, operating more than 35 facilities (manufacturing plants, warehousing, R&D hubs, sales, and customer service offices) in 12 countries, and jointly employ 3,050 people across three continents. Their collaborative relationship goes back 20 years, and this agreement deepens and further empowers their 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 in the U.S. and Europe to meet growing demand with reduced operational costs via collaboration across various activities and the increased geographic reach paves the way for increased global sales through growth opportunities in new markets. Sunlight Group first expanded into the U.S. market in 2019 with a facility in Greensboro, North Carolina and recently announced a new facility nearby in Mebane dedicated to the production of lithium batteries. Together with Triathlon's Dallas, Texas assembly facility, U.S. customers will benefit from more efficient distribution networks, wider after-sales service coverage, and a richer portfolio of products and services to meet customer energy needs.

Both companies are leaders in high technology and innovation, focusing on building a complete value chain – from cells all the way to complete batteries and integrated systems – transitioning to a fully circular future of regenerative production processes. The acquisition 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.

Sunlight Group is a member of the international and diversified investment group, Olympia. As a company, Sunlight carries over 30 years of knowledge and experience in the development, production and distribution of lead-acid and lithium-ion batteries for industrial mobility used mainly in the intralogistics sector – where the company holds a worldwide leadership position – leisure mobility, and Energy Storage Systems for renewables. These innovative offerings are manufactured in state-of-the-art facilities in USA, Greece (Xanthi, Komotini and Kilkis) and Italy (Verona and Vignola), and exported to more than 115 countries via Sunlight's sales and distribution offices in Germany, the Netherlands, Luxemburg, Denmark, UK, Italy, and Romania, as well as its extensive network of partners worldwide. Building on years of research in industrial applications and with a top-notch R&D team, Sunlight is investing significantly in innovation, sustainability, and green energy, currently employing over 1,850 employees in its various facilities – including its US operations.   

"At Sunlight, we've been stating that our goal is to become a global leader in motive power batteries for the intralogistics sector and Energy Storage Systems for renewables, and today's agreement is a decisive step in that direction," said Lampros Bisalas, CEO of Sunlight Group. "Today, we partner with a company that shares our drive and values, our passion for innovation and R&D, and our vision for global reach. Sunlight and Triathlon have been long-standing partners in both good times and challenging ones, and this is an historic moment for both of us."

"With full support of our vision by our shareholder, Olympia Group," Bisalas continued, "the focus of our acquisition strategy has been to leverage synergies across all possible activities, while enabling the companies to follow their independent growth plans, faster and more efficiently. I personally have great trust and admiration for Martin [Hartmann, Triathlon CEO] and his very talented team for everything they've achieved and I'm excited for what they have in store for the future. I'm very much looking forward to working with Martin and the entire Triathlon team and pursue together the immense opportunities we see in the markets."

Triathlon Holding has decades of experience in the development and assembly of lead-acid and lithium-ion batteries for the intralogistics and energy storage markets, offering innovative products for a wide range of industrial vehicles for OEMs, such as electric forklifts, pallet jacks, and mobile lifting platforms. Triathlon is headquartered in Fürth, Bavaria, has a state-of-the-art production facility located in Glauchau, Saxony, and also operates two more production and R&D facilities in Germany, as well as a lead-acid assembly plant in Dallas, USA. Triathlon's international operations extend to Australia, UK and France, with sales and services offices for batteries, chargers, and accessories. The company employs more than 1,200 people across operations.

Martin Hartmann, CEO of Triathlon Holding, noted: "Sunlight has been a reliable companion to Triathlon's dynamic growth path in recent years. Our partnership has always been based on trust, open communication, shared values, and passion for customer excellence. For Triathlon this agreement means extended access to product solutions, strong manufacturing capabilities, technological synergies, and additional funds which will enable us to execute our ambitious growth plans."

To find out more about Sunlight Group Energy Storage Systems, please visit: www.the-sunlight-group.com/en/global

To find out more about TRIATHLON Group, please visit: www.triathlon-batterien.de/en  

Media Contact:
Sunlight Batteries, USA: [email protected] 
TRIATHLON Group, Stefan Westemeyer, [email protected]

SOURCE Sunlight Batteries USA