I Squared Capital Acquires Majority Stake in ENTEK Technology Holdings to Reshore U.S. Battery Separator Manufacturing

I Squared Capital has signed a definitive agreement to acquire a majority equity interest in ENTEK Technology Holdings LLC (ENTEK) for an $800 million investment. The capital will fund construction of a wet-process lithium-ion battery separator gigafactory in Terre Haute, Indiana, supported by a U.S. Department of Energy ATVM loan of up to $1.3 billion and targeted tax credits.