Germany-based Schuler Group, a subsidiary of Andritz, an international technology group offering plants, equipment, systems, and services for various industries, acquired Sovema Group, an Italian battery manufacturer.
With this deal, Schuler will be the sole owner of Sovema. Together both companies aim to develop the capabilities needed to equip gigafactories for the mass production of lithium-ion batteries to cater to the growing e-mobility industry and produce laminations for electric motors and electrolyzers for the hydrogen industry.
“We see the entrance of Schuler as new owner as a great opportunity for Sovema to unfold all its technological potential and play a major role in the gigafactory challenge. So far, our size allowed us to serve our customers with high quality and customization. Now, as part of Schuler Group, we will finally be able to reach the volumes required by the massive demand for battery manufacturing equipment in Europe and beyond,” said Sovema Group’s General Manager Massimiliano Ianniello.
Schuler offers technology in all areas of metal forming, and their clients include automotive manufacturers and suppliers, as well as companies from the forging, household appliance, and electrical industries. They also offer production lines for the cost-efficient mass manufacturing of prismatic and cylindrical battery cell housings.
“With Schuler as owner, we can now combine Sovema’s technological expertise with our know-how in the production of complex lines for the – mass manufacturing of parts and components. This gives us the potential to develop Schuler into a turnkey supplier of technology for the core process steps of cell assembly and cell formation for existing or planned gigafactories dedicated to manufacturing lithium-ion battery cells,” said Schuler CEO Domenico Iacovelli.
Last Month, Solid State, a manufacturer & distributor of electronic components, entered into a conditional agreement to acquire Custom Power, a battery systems manufacturer and energy solutions provider, for $45 million.
According to Mercom’s 1H and Q2 2022 Funding and M&A Report for Storage, Grid & Efficiency, there were 13 energy storage M&A transactions in 1H 2022 compared to nine in 1H 2021.
Earlier this year, Generate Capital, a sustainable infrastructure platform, acquired large-scale battery storage developer esVolta. The acquisition will enable Generate to expand into the front-of-the-meter battery storage market. esVolta has a portfolio of more than 900 MWh of operational and utility-contracted projects in the U.S. and Canada.