Kostal Group takes over Compleo
The insolvent company Compleo Charging Solutions has found a buyer. The Kostal Group will take over the charging infrastructure manufacturer. All activities concerning stationary charging technology will continue under the Compleo brand name.
That is according to a provision in the acquisition contract – which is still subject to reservations. Because Compleo has been in insolvency proceedings in self-administration since the end of December 2022, the administrator and the creditors’ committee of Compleo must first approve the deal. In addition, the companies must wait for “the court’s confirmation of an insolvency plan for Compleo and the granting of regulatory clearances.”
However, both parties expect the requirements to be met and that the takeover of Compleo into the Kostal Group will likely be finalised in June 2023. No details are given about the purchase price or special guarantees.
Instead, a statement emphasises the advantages of the merger: Compleo will “benefit from development and production resources as well as a presence in more than 20 countries”. Thus, the products from Compleo’s new “Big 5” family will also be “offered internationally with customised expertise and experienced support”. That also includes a new HPC.
Kostal offers bidirectional charging technology
Founded in 1912, the Kostal Group is a family-owned company with global operations, headquartered in Lüdenscheid, Germany, and located just a short distance from Compleo’s headquarters in Dortmund. Kostal develops and produces electronic and mechatronic products in various areas, including as an automotive supplier. Regarding electric mobility, Kostal focuses on solar charging and manufactures solar inverters in-house. Bidirectional charging also plays an important role. With the Compleo products, Kostal wants to expand its product portfolio and customer base for stationary charging technology.
There is no information about the future of the remaining Compleo employees and the company’s locations. However, as Kostal is not active in semi-public and public charging infrastructure, the overlap is likely to be small – and Compleo employees will likely join the Kostal Group’s 19,000-employee strong staff soon.
Source: Info via email, compleo-charging.com