Sunlight Group continues expansion with acquisition of PBM
Padua, Italy, 3 May 2022
Sunlight Group Energy Storage Systems, technology company specializing in integrated and innovative industrial and off-road energy storage solutions, announces the acquisition of PBM S.R.L., an established global leader in the production of battery chargers and industrial electronic devices.
PBM S.R.L. has over 40 years of experience in Research & Development (R&D) and manufacturing of innovative battery chargers and electronics. Located in Vignola, Italy, the company operates a state-of-the-art manufacturing plant in the area, as well as a manufacturing plant for components. The latter is operated by PBM’s subsidiary IETE, and located in San Giorgio di Piano, near Bologna. PBM serves the global market of the top energy storage providers and OEMs with a wide portfolio of quality products, extending from forklift battery chargers to industrial battery chargers and dischargers.
The agreement between the two companies was signed on 29 April 2022 by the CEO of Sunlight Group, Lampros Bisalas and the shareholders of PBM. Per the agreement, Sunlight Group acquires 80% of the company, while the CEO of PBM, Maurizio Pelloni, retains a 20% stake and will continue leading operations.
Commenting on the agreement, Mr. Bisalas stated: ”We are pleased to announce the signing of this agreement that strengthens our long-standing collaboration with PBM, a trusted supplier. We are proud to become part of PBM’s future and we commit to supporting Maurizio and his capable team in their efforts to fulfil their vision, realize their ambitious plans to grow independently, and expand both their product portfolio and clientele. Sunlight Group’s expansion program focuses on creating value by supporting the autonomous operation of the companies in which we have interests, while strengthening our position globally. This acquisition brings us yet another step closer to a sustainable, efficient, and complete batteries value chain – a critical aspect of the transition to an all-electric future. I’d like to welcome the entire PBM team to the Sunlight Group family. As a strategic investor in PBM, we are looking forward to enabling them to maximize their potential and achieve their goals, regardless of the company’s relationship with Sunlight, while exploring R&D synergies and other collaborations.”
Mr. M. Pelloni noted: “PBM started as a family business in Italy in 1973 from an idea of Lino Pelloni, and after almost 50 years in the market we are now members of a dynamic global company. We have been collaborating with Sunlight for several years and cultivated a wonderful working relationship since the beginning. Becoming part of Sunlight Group at a time when the global energy storage market is constantly and rapidly changing, will inspire new goals for our PBM Team. It will bring added strength and resources to allow for our strategic growth plans in terms of technology, capacity production, and optimal supply of our PBM customers who have always supported us. On our part, we shall continue serving our customers with the same quality and care, while utilizing available resources and funds to pursue our independent growth. I’d like to thank Mr. Bisalas, Sunlight Group’s shareholders, Board of Directors, and Leadership Team for their trust in PBM.”
Following the acquisition of Technoform at the end of 2021 and the acquisition of 78% of Sunlight Italy, Sunlight Group continues implementing its robust €560m business plan. The five-year plan aims to expand the company’s production capacity in lead-acid and lithium-ion batteries and energy storage systems, as well as secure and grow its supply chain and sales network. To that effect, Sunlight invests millions in its facilities in Greece and abroad. Investments in equipment, automated production and assembly lines, Research & Development, human resources, as well as Mergers & Acquisitions.