Jul 16, 2021 - 11:18 am

Compleo wants to take over innogy eMobility Solutions

The Dortmund-based charging infrastructure manufacturer Compleo has confirmed that it is negotiating the takeover of innogy eMobility Solutions GmbH with E.ON. Officially, a letter of intent for the acquisition of 100 per cent of the shares has already been concluded.

As Compleo emphasises in the statement, the negotiations on the purchase of the European eMobility business of the former innogy SE are exclusive. Compleo puts a possible financial framework in which the transaction could take place at a mid-double-digit million euro amount – at least that is how high the “enterprise value” is estimated to be. After a detailed due diligence, both sides are aiming for a possible conclusion of the contract in the third quarter of 2021, and the closing of the transaction in the fourth quarter, according to Compleo.

The subject matter of the agreement already concluded (“term sheet”) includes the European business of the GmbH, but not the US activities and the charge operator and charging solutions business remaining with E.ON SE. innogy eMobility Solutions GmbH has two large locations in Essen and Dortmund.

As Compleo puts it, the takeover is intended to create a win-win situation: E.ON relies heavily on integrated customer solutions in the field of electromobility. In contrast, innogy eMobility Solutions GmbH develops and produces its own hardware and software for charging and is thus much closer to the business model of Compleo Charging Solutions AG. Should the takeover take place, Compleo says it intends to take over all employees and customer relationships.

“We are confident about the prospect of growing together with a very experienced and long-standing market player such as innogy eMobility Solutions GmbH,” says Georg Griesemann, Co-CEO of Compleo Charging Solutions AG. “We value the company’s employees as proven experts in the technological field as well as in the European e-mobility market.”

Following the purchase of wallbe GmbH in spring, the combination with another strong player such as innogy eMobility Solutions GmbH serves the goal of expanding Compleo to become the German e-mobility champion in Europe. “With our organic and inorganic growth, we are investing in our future as the German driver for electromobility in Europe and optimising our international market position,” Griesemann continued.

The IPO in October 2020 had brought the company gross proceeds of 44 million euros, and a capital increase in April had provided an inflow of a further 28 million euros.

marketscreener.com, yahoo.com

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Found on electrive.com
https://www.electrive.com/2021/07/16/compleo-wants-to-take-over-innogy-emobility-solutions/
16.07.2021 11:33