I Squared Capital has committed $800 million to acquire a majority stake in ENTEK Technology Holdings LLC, aimed at establishing a gigafactory in Indiana to produce lithium-ion battery separators.

Target Information

ENTEK Technology Holdings LLC is a prominent global manufacturer specializing in battery separators, which are essential components used in lithium-ion batteries. The company is recognized for its innovative solutions that support the growing demand for batteries in various applications, including electric vehicles and energy storage systems. As part of its ongoing efforts to expand production capabilities, ENTEK is set to enhance its market position through a significant investment aimed at constructing a state-of-the-art gigafactory.

This new facility, located in Terre Haute, Indiana, will be the first in the U.S. dedicated to the wet-process production of lithium-ion battery separators. This endeavor aligns with the increasing need for advanced materials in electric vehicle technology and renewable energy solutions, addressing critical supply chain demands in the growing electric vehicle market.

Industry Overview

The U.S. battery manufacturing industry is experiencing a notable transformation, driven by the rapid growth of the electric vehicle sector and the rise of renewable energy storage solutions. With an increasing focus on sustainable practices and a significant shift toward