Entry of new majority shareholder Sunlight Group successfully completed – TRIATHLON acquires around 37 % of Voltabox AG in parallel

Fürth, Germany, 08.02.2023 – Geraer Batterie-Dienst GmbH and Sunlight Group Energy Storage Systems (Sunlight Group) signed a purchase agreement back in December 2022 for the acquisition of 51 % of the shares in Triathlon Holding GmbH (TRIATHLON). The antitrust authorities have now approved the transaction, meaning that all conditions for the closing of the purchase agreement are now fulfilled. The merger will create the global market leader in the field of industrial energy storage systems. Both companies bring a unique product and solution portfolio, world-class resources in production and development, and strong and tough global market access in intralogistics and industrial stationary storage applications. As announced, Sunlight Group as well as TRIATHLON Group will address and develop their respective business activities and target markets independently based on their strong alliance. In selected functional areas, the companies aim to cooperate closely in order to leverage the synergies that arise.

"The entry of Sunlight is an important step for TRIATHLON on the way to a promising future. Together we form a unique force in the market for industrial batteries for use in industrial trucks as well as for stationary energy storage. I am very pleased about this merger. Both groups of companies have a lot in common in terms of their product and market strategy and, in particular, in their understanding of first-class customer service," explains Martin Hartmann, CEO of TRIATHLON.

"Sunlight and TRIATHLON will continue on their successful paths and fully exploit their strengths in the markets they already operate in and to be addressed in future. We will benefit significantly from this collaboration and are very much looking forward to working together as the new global flagship for high-performance, efficient and modern energy storage systems," adds Holger Aschke, member of the TRIATHLON management board.

Together, Sunlight Group and TRIATHLON operate more than 35 facilities (production plants and warehouses, research and development centers, sales and customer service offices) in twelve countries and employ more than 3,000 people worldwide. Both companies have already been working together intensively for 20 years to provide innovative, economical, and high-performance energy storage solutions for the industry.

TRIATHLON expects the merger to open up new potential in the short and medium term with regard to its product range and, in particular, to be able to significantly expand its global service market coverage. In this way, customers will benefit from increased seamless support, receiving all solutions from a single source and thus enjoying maximum added value.

TRIATHLON takes over share package in listed Voltabox AG

In a further step, Triathlon Holding GmbH today acquired around 37% of the shares in the listed Voltabox AG from Trionity Invest GmbH. This makes Triathlon Holding GmbH the new largest anchor shareholder of Voltabox. The company, headquartered in Paderborn, Germany, specializes in lithium-ion battery systems for high-voltage applications in the bus and agricultural and construction machinery sectors. Voltabox has already been a partner of the TRIATHLON Group for several years: Initially as a supplier of lithium-ion modules in various voltage classes for intralogistics applications, and then as a cooperation partner in core business areas, including production and development, following the change in the main shareholders at the end of 2021.

"Voltabox means extraordinarily important resources for our new joint Group in the field of high-voltage lithium-ion technology. The investment of TRIATHLON and Sunlight is the logical continuation of our cooperation. Regardless of the size of TRIATHLON's future direct shareholding, Voltabox AG will continue to pursue its market and product strategy as well as its chosen growth path," emphasizes Martin Hartmann. "The demands on industry and intralogistics are continuously growing. There is an increasing need for applications that can deliver even more power at higher voltages. Voltabox is able to provide answers to these challenges together with us."

Pursuant to Sections 29 et seq. German Securities Acquisition and Takeover Act (WpÜG), Triathlon Holding GmbH will, as a result of the acquisition of more than 30% of the share capital of Voltabox and the associated acquisition of control, submit a mandatory offer to the remaining shareholders pursuant to sections 35 et seq. WpÜG for the acquisition of all outstanding shares. The offer price shall correspond to the statutory minimum price. The offer document must be approved by the German Federal Financial Supervisory Authority (BaFin). Immediately after approval, probably in March 2023, the offer document will be published.