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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

PRESS RELEASE: Compleo and wallbe to merge

03/26/2021 | 06:15am EDT
DGAP-News: Compleo Charging Solutions AG / Key word(s): Mergers & Acquisitions 
Compleo and wallbe to merge 
2021-03-26 / 12:12 
The issuer is solely responsible for the content of this announcement. 
Compleo and wallbe to merge 
Merger accelerates growth ambitions of both companies | Technologies and products complement each other and create 
access to new markets | Goal is to establish a leading position in Europe 
Dortmund, 26 March 2021 - Compleo Charging Solutions AG and enercity AG as well as Weidmüller Mobility Concepts GmbH & 
Co. KG signed an agreement yesterday under which the companies Compleo Charging Solutions AG and wallbe GmbH will 
merge. The merger was notarized yesterday. The closing of the transaction as well as the consolidation of the 
operational business of Compleo and wallbe are expected to take place in April. The merger of the companies that 
complement each other in terms of their products and services is expected to create a large provider of charging 
solutions in Europe. The merger will strengthen Compleo's and wallbe's leading position in the German market and in 
Compleo has set itself the goal of growing, expanding its range of products and services, and further developing its 
European sales to be able to participate optimally in the dynamic market for electromobility. The Dortmund-based 
company is taking over 100 percent of the shares in wallbe in exchange for approximately one third of Compleo shares; 
approximately 2/3 will be paid in cash from available liquidity. The two previous and largest owners of wallbe, 
enercity AG (around 50 percent) and Weidmüller Mobility Concepts GmbH & Co. KG (around 26 percent), as well as Dr. 
Dominik Freund, will continue to be investors in Compleo as new shareholders. 
"A comprehensive and reliable charging infrastructure is a core prerequisite for consumers to buy an e-car. 
Furthermore, the simplest, most intuitive and most reliable access to charging options is crucial. As a strong company 
in these two areas, we are decisively driving the final breakthrough of e-mobility in Europe and are pleased that 
enercity and Weidmüller will continue to support our growth strategy," said Georg Griesemann, Co-CEO of Compleo AG. 
"Ultimately, the key to success will not be compartmentalization, but rather opening up and companies cooperating with 
one another, as well as the resulting benefits for customers." 
"Electromobility will continue to grow rapidly. We will also see the market consolidate because price pressure will 
also increase. The new company created by the merger will be ahead of these developments. The new set-up brings 
together two companies that complement each other perfectly and creates a new driving force in the e-mobility market," 
explained Dr. Susanna Zapreva, Executive Board Chairwoman of enercity AG. By investing in wallbe in 2017, enercity has 
taken on the strategic driving role in the further development of the business and strongly supported wallbe in the 
development of its own cloud-based backend system for installation companies as well as a customer-friendly payment 
system. As a result of the inclusion of Weidmüller Mobility Concepts GmbH & Co. KG from Paderborn in the group of 
shareholders in 2019, the foundations for industrial mass production have also been laid. Subsequently, enercity 
started the search for a partner in 2020 to support the further growth and strategic development of the company. This 
has now been achieved with Compleo. "The merger with Compleo is the logical further development of the e-mobility 
strategy that we have adopted. Both companies together have a brighter future ahead of them than either one 
individually," said Zapreva. "We see a provider for e-mobility solutions that can optimally serve customer needs by 
joining forces." 
For the time being, both companies will remain on the market under their own names and with their current set-ups. 
"Together, we are taking this next big step into the highly dynamic future markets of e-mobility in a consistent and 
strengthened manner," said Dr. Dominik Freund, Managing Partner of wallbe GmbH. "The wallbe team is looking forward to 
working with Compleo. Today's announcement once again proves the strength of our team and our portfolio." Over the 
coming period, the future shape of the company will be announced, as well as the associated timeline. Compleo's 
management team will remain unchanged. As wallbe's Managing Director, Dr. Dominik Freund will shape the future path to 
success together with Compleo. wallbe founder Lars Ulbricht will resign from his position as Managing Director after 21 
years in office. He will work for both companies as an external consultant. "We are particularly pleased that Lars 
Ulbricht will be contributing his extensive expertise and visionary thinking, with which he founded wallbe and led it 
for 21 years, to both companies as an external consultant in order to continue to drive our joint growth with us," 
explained Dr. Dominik Freund on the planned line-up. The teams and thus the jobs in both companies will be retained in 
their entirety. Joint growth will require profound expertise and extensive manpower: research and development as well 
as production will continue to be greatly expanded. The wallbe sites in Schlangen in Eastern Westphalia and in the 
Zukunftsmeile in Paderborn will be retained. Compleo is anchored at its site in Dortmund, an hour and a half away, and 
just expanded its production capacities there. 
"We see many advantages in contributing our shares in wallbe to enable the merger of the companies into one of the 
European market leaders for charging infrastructure. Besides the joint growth in the area of innovative charging 
technology and the billing systems, the next logical step now follows, which will strengthen all companies involved and 
increase the speed of innovation," commented Volker Bibelhausen, Chief Technology Officer and Spokesman of the 
Executive Board of the Weidmüller Group. As a strategic partner, Weidmüller will contribute its expertise in the fields 
of charging and installation technology, industrial connectivity and connection technology in the future. "We are 
pleased to be able to help develop innovative and attractive solution offerings for the charging infrastructure in 
Europe through this strategic partnership in the future," added Bibelhausen. 
Both partners intend to use the merger to create strong synergies in developing the market, their technologies and 
their know-how, and to make optimal use of these to achieve further growth. Compleo contributes a technology platform 
for charging stations and embedded software for both AC and DC charging and was the first player on the German market 
to establish charging stations that comply with calibration regulations in the DC sector with the Cito series. In the 
AC sector, for example, the Duo for employee and fleet charging and the Duo IMS series for charging in public areas are 
extremely popular. The Dortmund-based company has been a technology leader for more than 11 years based on a strong R&D 
focus. Compleo has delivered over 30,000 charging points across Europe so far. Despite the corona pandemic, Compleo 
managed to more than double its turnover to EUR 30 million in 2020 compared to 2019. In Europe, Compleo was already 
actively expanding beforehand and formed sales partnerships in Poland, Austria and Switzerland. 
Wallbe's portfolio includes, among other products, leading billing and management systems for charging infrastructures 
that are particularly tailored to the needs of electrical installation companies. The company is strongly committed to 
future topics such as solar-optimized charging and grid integration. wallbe also offers intelligent ad-hoc payment and 
billing functions with giro and credit cards. The latter is increasingly requested by customers and consumers. With 
15,000 charging points delivered across Europe, the company has a wide-ranging charging network. wallbe is based in 
Malmö, Sweden, and has its own team there. 
About Compleo | Compleo is a leading supplier of charging solutions for electric vehicles. The company supports 
complete solution providers with its charging stations and, if required, also with the planning, installation, 
maintenance, service or backend of the charging infrastructure. Compleo's offering includes both AC and DC charging 
stations. Compleo's DC charging stations are the first DC charging stations on the market that comply with German 
calibration law (Eichrecht). The company develops and manufactures all products at its Dortmund site. The manufacturer 
focuses on innovation, safety, consumer-friendliness and economy. Its customers include Allego, E.ON, EWE Go, Deutsche 
Post DHL Group, Deutsche Telekom, Siemens and over 150 public utilities in Germany. Compleo started production of the 
first charging stations in 2009. The fast-growing company currently employs around 250 people. Compleo is listed in the 
Prime Standard segment of the Frankfurt Stock Exchange since October 2020 (ISIN: DE000A2QDNX9). More information is 
available at: www.compleo-cs.de/ 
wallbe | driving eMobility 
At wallbe, we are convinced that charging networks will determine the future of e-mobility. That's why we not only 
develop charging stations, but also solutions that can be used to control entire networks and infrastructures. In a 
committed and motivated team, we face this challenge with a high level of expertise, technical expertise and a lot of 
passion. The wallbe concept is based on a perfectly coordinated collaboration between wallbe(R) hardware (wallbox, 
charging station), wallbe HUB and wallbe services. In this way, we offer our customers a sustainable and holistic range 
of solutions for all aspects of the charging infrastructure. The economic operation and high availability of the 

(MORE TO FOLLOW) Dow Jones Newswires

March 26, 2021 07:14 ET (11:14 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
COMPLEO CHARGING SOLUTIONS AG 2.16% 94.8 Delayed Quote.-0.64%
DEUTSCHE POST AG -1.96% 56.08 Delayed Quote.41.26%
DEUTSCHE TELEKOM AG 1.17% 17.646 Delayed Quote.16.68%
SIEMENS AG -0.50% 147.18 Delayed Quote.25.90%
UNITED PARCEL SERVICE INC -0.12% 187.94 Delayed Quote.11.65%
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Analyst Recommendations on COMPLEO CHARGING SOLUTIONS AG
More recommendations
Sales 2021 67,3 M 78,8 M 78,8 M
Net income 2021 -3,60 M -4,21 M -4,21 M
Net cash 2021 20,7 M 24,2 M 24,2 M
P/E ratio 2021 -103x
Yield 2021 -
Capitalization 362 M 423 M 423 M
EV / Sales 2021 5,06x
EV / Sales 2022 2,75x
Nbr of Employees 362
Free-Float 62,1%
Duration : Period :
Compleo Charging Solutions AG Technical Analysis Chart | C0M | DE000A2QDNX9 | MarketScreener
Technical analysis trends COMPLEO CHARGING SOLUTIONS AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 3
Last Close Price 92,80 €
Average target price 114,00 €
Spread / Average Target 22,8%
EPS Revisions
Managers and Directors
Checrallah Kachouh Co-Chief Executive Officer
Georg Griesemann Co-Chief Executive Officer
Peter Gabriel Chief Financial Officer
Dag Hagby Chairman-Supervisory Board
Jens Stolze Chief Operating Officer