Private equity firm Mutares has sold its 51% majority stake in LiBCycle to Reverse Logistics Group (RLG). LiBCycle, an inTime Group company based in Munich, specializes in logistics for defective lithium-ion batteries. The target generated €4.1 million in annual revenues in 2025, making it an attractive acquisition for the buyer.

This deal highlights the growing importance of supply chain management for used electric vehicle batteries. As EV adoption surges globally, handling end-of-life power units safely and efficiently has become a critical industry challenge. RLG’s purchase strengthens its position in the reverse logistics market, a sector seeing increased investment due to regulatory pressures and sustainability goals.

Mutares originally invested in LiBCycle to capitalize on the circular economy trend. Exiting now likely provides the firm with a solid return on its investment. Observers will watch how RLG integrates LiBCycle’s operations and expands its battery recycling network across Europe, addressing a key bottleneck in the green energy transition.