Greece’s Sunlight Group acquired 51% of German Triathlon

Sunlight Group Energy Storage Systems (Sunlight Group), a member of the international investment group Olympia and a technology company specializing in innovative industrial electrification solutions for the intralogistics industry and energy storage systems, with a global leadership position in the field of electric forklifts, continues its dynamic business plan with the acquisition of 51% of the share capital of Triathlon Holding GmbH.

This agreement constitutes a mega-deal that completely redefines and changes the landscape in industrial lead-acid and lithium-ion batteries and creates opportunities for further growth and expansion – always with an emphasis on customer needs.

Sunlight has more than 30 years of knowledge and experience and is a leader in the development, production and sale of lead-acid and lithium-ion batteries for off-road applications and for energy storage systems.

These products are manufactured at Sunlight’s state-of-the-art facilities in Greece (Xanthi, Komotini and Kilkis), Italy (Verona and Vignola), USA (Greensboro and Mebane, North Carolina) and exported to more than 115 countries through the company’s sales and distribution offices in Germany, the Netherlands, Denmark, Luxembourg, the United Kingdom, Italy and Romania, as well as its extensive network of partners worldwide.

With many years of experience in research and development, it invests significantly in innovation, sustainability and green energy, while employing more than 1,850 employees in its various facilities.

Global power

With the latest acquisition, Sunlight Group emerges as a true global force in batteries for off-road industrial vehicles serving the all-important intralogistics industry, with batteries for forklifts, pallet trucks, forklifts and automated guided vehicles (AGVs), but also robotic systems.

Sunlight and Triathlon are also active in the development and production of energy storage systems. The battery systems, that is, which are used to store the energy produced by renewable sources to stabilize the distribution networks, but also to store energy in homes (homestorage).

Sunlight Group will claim leadership in the European and US markets, contributing to decarbonisation and energy security, thanks to the company’s ability to increase production capacity and develop innovation in battery, lead-acid and ion technologies lithium.

The combination of the huge production capacities, but also the power of innovation in terms of technological developments, brings Sunlight Group to the forefront of the sector.

Innovation is a key area for Sunlight, as it invests significantly in Research & Development, and in particular in lithium technology. Now, it will operate five research centers, with more than 200 specialist scientists, while it also acquires the possibility of in-house production of electronic boards (Printed Circuit Boards) for lithium batteries.

What is Triathlon?

Triathlon Holding GmbH has been active for decades in the development and assembly of batteries for the intralogistics industry and energy storage systems, offering innovative products for a range of industrial vehicles for Original Equipment Manufacturers (OEMs), such as forklifts, pallet trucks and forklifts.

Triathlon is headquartered in Fürth, Bavaria, with its state-of-the-art production facility in Glauchau, Saxony, and operates two other factories and R&D centers in Germany, as well as a lead-acid battery assembly facility in Dallas, USA.

Triathlon’s international business also extends to Australia, the UK and France, operating sales and service offices for batteries, chargers and accessories. More than 1,200 people are employed in all the company’s facilities.

Turnover 1 billion euros

The combined turnover of Sunlight Group and Triathlon exceeds €1 billion and is expected to triple in the coming years through targeted efforts.

The more than 35 facilities (production units and warehouses, R&D centers, sales and service offices) that Sunlight Group will now operate in 12 countries around the world, employing a total of 3,050 employees, will be fully utilized.

These developments create the conditions for a significant expansion of production capacity and complete verticalization. Also, e