Landis+Gyr sells charging division to Slovenian investor
Landis+Gyr has announced that it has signed an agreement with the Slovenian finance and investment company KD Group to sell its EV Solutions business (formerly Etrel). The agreement ensures that the business, including its employees, customer contracts and service obligations, will continue under the new ownership.
“As part of the ongoing exit from the EV charging business in EMEA, Landis+Gyr has been actively working to identify the best possible outcome for the EV Solutions business,” the company has now announced. However, when the announcement was made in mid-February, the withdrawal was only confirmed because the expected growth rates had not materialised and it was considered unlikely that the segment would become profitable in the foreseeable future due to the “significantly changed regulatory and market conditions as well as competitive pressure.” And as charging infrastructure is not part of Landis+Gyr’s core business, the plug was pulled.
Without an announced search for a buyer, there were fears that the division could be wound up, and it was unclear, at least externally, for a month what the future held for the business unit and its employees. With the sale to the KD Group now announced, there is certainty – because according to the agreement, the business, “including its employees, customer contracts, and service commitments, will continue under new ownership.”
The KD Group is a Slovenian financial and investment company which, according to Landis+Gyr, is “recognized for its strategic vision and impactful investments.” The focus is on long-term value creation, and the KD Group integrates “financial expertise with operational improvements, ensuring sustainable expansion and profitability.” Landis+Gyr also had great ambitions in the charging business: the Swiss company only fully acquired the Slovenian charging infrastructure manufacturer Etrel in June 2024 and appointed former Smatrics boss Michael Viktor Fischer as CEO of the business unit, which has been operating under the label ‘Landis+Gyr EV Solutions’ ever since.
“This agreement reflects Landis+Gyr’s commitment to securing the best possible outcome for our employees, customers, and partners. By ensuring a path forward for the EV Solutions business under new ownership, we are prioritizing business continuity while remaining focused on our core strengths in integrated energy management solutions,” says Robert Evans , Executive Vice President for the EMEA region at Landis+Gyr.
Gregor Sluga, CEO of KD Group, added: “We are proud to join Etrel, building on the remarkable 15-year legacy in the e-mobility space. This investment reflects our confidence in the company’s role in shaping a smarter, more sustainable future. This is also an important opportunity to further support the development of Slovenia’s entrepreneurial and innovation landscape, fostering local expertise and reinforcing the country’s position as a hub for advanced technology in the global e-mobility market.”
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