DGAP-News

Compleo and wallbe to merge

DGAP-News: Compleo Charging Solutions AG / Key word(s): Mergers & Acquisitions Compleo and wallbe to merge 26.03.2021 / 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 Europe.

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."