Sunlight Group completes acquisition of Sunlight European Battery Assembly (SEBA) and Sunlight Italy

Sunlight Group Energy Storage Systems, technology company specializing in integrated and innovative industrial and off-road energy storage solutions, announces the acquisition of BMG Energy’s 22% share capital of Sunlight European Battery Assembly (SEBA) and Sunlight Italy. The agreement strengthens Sunlight Group’s presence in Italy and is in line with company’s strategy that entails fast implementation of multimillion investments to support growth of its production capacity and expansion of sales and services network, to better serve Western European market and OEMs (Original Equipment Manufacturers).

On July 28th, 2022, an agreement was signed by the CEO of Sunlight Group, Lampros Bisalas and Mr. Flavio Scaramuzza and Mr. Wilhelm Menghin, owners of BMG Energy, that foresees the acquisition of BMG Energy’s shares in Sunlight European Battery Assembly (SEBA) and in Sunlight Italy. Following the completion of the transaction, Sunlight Group becomes the sole owner of SEBA and its subsidiary, Sunlight Italy, and will proceed to appoint a new Board of Directors.

Commenting on the agreement, Mr. Bisalas, Sunlight Group’s CEO, stated: "SEBA is our main European assembly plant, and after acquiring 100% of its share capital, we confirm the further execution and pursuance of our ambitious business plan to support growth of both our manufacturing and commercial presence in Western Europe. I’d like to thank the owners of BMG Energy, Mr. Flavio Scaramuzza and Mr. Wilhelm Menghin, for the excellent collaboration over the last decade, for sharing with us valuable learnings deriving from their deep knowledge of the Italian market, which undoubtedly led to the successful establishment of SEBA and Sunlight Italy”.

SEBA (Sunlight European Battery Assembly), is Sunlight Group’s European assembly plant that produces batteries for Sunlight Group, using cells manufactured at the Xanthi industrial complex in Greece. Sunlight Italy complements the operation of SEBA, focusing on the facilitation of sales, after sales, and customer services for clients and end-users of Sunlight products.