Customcells, a battery manufacturer previously facing insolvency, has been acquired by a consortium led by existing investor Abacon and technology investor Salvia. This was confirmed by the law firm representing insolvency administrator Malte Köster to Handelsblatt.
A purchase agreement was signed on Wednesday, stipulating the continuation of operations at the Itzehoe location, with approximately 80 percent of the workforce expected to be retained. Ongoing production and research and development activities will also be maintained. However, the company’s second site in Tübingen, Baden-Württemberg, will be closed, according to Köster. The decision to close the Tübingen facility was reportedly based on a lack of economically viable prospects.
Customcells serves customers in sectors including defense, security, motorsport and mining. The company is recognized as one of the few European battery manufacturers holding NATO certification.
Sources familiar with the negotiations indicate a change in leadership structure will accompany the restart. Jan Diekmann, the former head of innovation, is slated to join the management board. Co-Managing Director Benno Leuthner will remain with the company. Former CEO Dirk Abendroth will transition to an advisory role, stepping away from day-to-day operational responsibilities.
The purchase price remains undisclosed, but industry sources estimate it to be in the low single-digit million euro range, supplemented by a double-digit million euro investment earmarked for future development.