I Squared Capital Acquires Majority Stake in ENTEK Technology Holdings to Reshore U.S. Battery Separator Manufacturing
September 17, 2025
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.
- Buyers
- I Squared Capital
- Targets
- ENTEK Technology Holdings LLC
- Sellers
- None mentioned
- Platforms
- I Squared Capital
- Industry
- Energy
- Location
- Indiana, United States
- Transaction Type
- Buyout
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