SKion, an investment company founded by German entrepreneur Susanne Klatten, has agreed to acquire key business units from the insolvent subsidiaries of battery manufacturer BMZ Group, positioning the investor as a rescuer of parts of the energy storage specialist.
The agreement covers “significant business units from the self-administration proceedings” of BMZ Germany GmbH and BMZ Holding GmbH, SKion said, adding that the transaction remains subject to antitrust approval. Both subsidiaries, based in Karlstein am Main, entered self-administration insolvency after the Aschaffenburg District Court formally opened proceedings on Dec. 19, following applications filed in October.
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Insolvency proceedings confirmed the illiquidity and over-indebtedness of the two companies, and lawyer Jan Markus Plathner was appointed insolvency administrator. However, his role is expected to be limited, as SKion announced its acquisition plan on the same day the proceedings were opened.
SKion was already a minority shareholder, having taken a 20% stake in BMZ Group in 2022, and is now seeking a full takeover. “Since the beginning of the proceedings, SKion has supported the company and provided bridge financing to ensure the continuation of operational business,” the prospective buyer said in a statement. During the bidding process, the creditors’ committee selected SKion’s offer.
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“SKion believes in the future of the company. The goal is to continue its business and expand it both nationally and internationally,” the statement said, describing BMZ as playing “a critical role in the value chain for energy storage systems.” SKion added it intends to preserve BMZ’s technologies and employee expertise, and that as many staff as possible “should be offered continued employment within the company.”
According to regional newspaper MainEcho, just over 400 employees remain at the Karlstein site, down from around 900 previously. SKion said restructuring will include spinning off the operating businesses of BMZ Germany and BMZ Holding into a new corporate structure, with a focus on stabilising customer and supplier relationships and securing long-term financing. The investor cited growing demand for core products and a strong international order book as reasons for optimism.
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BMZ Group manufactures lithium-ion battery systems for stationary storage and electric vehicles. Among its customers is Daimler Buses, which sources battery packs for the Mercedes-Benz eCitaro from BMZ’s Polish subsidiary. Foreign subsidiaries, including those in Poland, China and the United States, have not been affected by the insolvency proceedings.
BMZ said the financial difficulties stemmed from an acute liquidity crisis following the loss of a major customer in the energy storage segment, compounded by legal disputes and rising costs. Founded in 1994, BMZ Group operates production sites in Germany, China, Poland and the United States, with research and development activities worldwide.
