SKion to take over insolvent BMZ subsidiaries

A brief overview of the situation: battery manufacturer BMZ Group is facing the insolvency of two of its central subsidiaries. Both BMZ Germany GmbH and BMZ Holding GmbH, based in Karlstein am Main, have entered insolvency. The Aschaffenburg District Court formally opened self-administration insolvency proceedings for both companies on 19 December 2025. As previously reported, the BMZ subsidiaries had applied for these proceedings in October.

Following a court decision some days ago, insolvency proceedings confirmed the illiquidity and over-indebtedness of the two subsidiaries. Lawyer Dr. Jan Markus Plathner from Frankfurt am Main was appointed as the insolvency administrator. However, it is likely that Plathner will have limited involvement with the two companies, as SKion announced on the same day – 19 December – that it would acquire key business units from the self-administration proceedings. This move, however, remains subject to approval by the antitrust authorities.

SKion was already a minority shareholder in the BMZ Group. The investment company, founded by Susanne Klatten and based in Bad Homburg, had acquired a 20 percent stake in the BMZ Group in 2022. SKion is now attempting 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 buyers stated in a press release. During the recent bidding process, the creditors’ committee ultimately selected SKion’s offer.

“SKion believes in the future of the company. The goal is to continue its business and expand it both nationally and internationally. BMZ plays a critical role in the value chain for energy storage systems. SKion intends to preserve BMZ’s technologies and the expertise of its employees in this field, and to further develop the company alongside a newly established management team,” the statement continued. Against this backdrop, as many employees as possible “should be offered continued employment within the company”. According to the newspaper MainEcho, of the former 900 employees in the region, just over 400 are currently still working in Karlstein.

However, restructuring is unavoidable: SKion announced that its restructuring plan involves spinning off the operational business of BMZ Holding GmbH and BMZ Germany GmbH into a new structure. “The focus in the coming months will be on stabilising and expanding customer and supplier relationships, as well as further developing the organisation and integrating employees. The timely establishment of the new structure will also ensure the financial stability of the BMZ Group and enable sustainable recapitalisation.” Optimism is driven by the fact that ‘demand for core products is growing, and the market trend towards high-performance battery systems remains strong.’ Additionally, the group ‘has a robust international order book.’

The BMZ Group is known as a manufacturer of lithium-ion battery systems. Among its well-known customers is Daimler Buses: the Stuttgart-based company sources the new battery packs (“NMC 4”) for the Mercedes-Benz eCitaro from BMZ Poland. This subsidiary, along with other foreign entities, has remained unaffected by the insolvency. The official reason for the financial difficulties at BMZ Germany GmbH and BMZ Holding GmbH is “an acute liquidity crisis and the need for restructuring following the loss of a major customer in the energy storage segment, as well as resulting legal disputes and cost burdens.” The BMZ Holding was also affected by a letter of comfort, meaning it acted as a guarantor for the German subsidiary.

BMZ Deutschland GmbH is by far the oldest subsidiary of the BMZ Group—and the foundation of the company, which was registered in 1994. BMZ was founded in Karlstein am Main, with its core business focused on lithium-ion systems for stationary storage and electric vehicles. The group operates production facilities in Germany, China, Poland, and the USA, as well as branches in Japan, the UK, and France. Additionally, it has research and development sites worldwide; BMZ’s in-house development team comprises 230 employees. In 2023, BMZ diversified by acquiring e-bike manufacturer Nox Cycles and electronics manufacturer Visatronic. In the same year, the group also announced plans to open a new production site in North Macedonia. According to the BMZ website, construction of the new 6,800-square-metre production facility began at the end of 2024 and was successfully completed in 2025.

pedelec-elektro-fahrrad.de, neu.insolvenzbekanntmachungen.de, neu.insolvenbekanntmachungen.de, skion.de via main-echo.de