DGAP-News

Compleo completes acquisition of wallbe GmbH

DGAP-News: Compleo Charging Solutions AG / Key word(s): Mergers & Acquisitions Compleo completes acquisition of wallbe GmbH 30.04.2021 / 12:59 The issuer is solely responsible for the content of this announcement. Compleo completes acquisition of wallbe GmbH

Dortmund, April 30, 2021 - Compleo Charging Solutions AG ("Compleo"), a leading provider of charging solutions for electric vehicles, has announced the closing of the agreement concluded at the end of March to acquire 100% of the shares in wallbe GmbH ("wallbe"). Compleo has thus taken a successful step towards integrating wallbe, as wallbe will be consolidated and managed as a subsidiary from May 1, 2021. With the merger, both companies strengthen their leading position in the market for charging solutions and are driving the establishment of a market leadership position in Europe.

With today's closing of the acquisition on schedule and the transfer of the cash shares, wallbe's former shareholders will also acquire an interest in Compleo through the issuance of new shares as part of a capital increase from authorized capital. For this purpose, Compleo's share capital was increased by 130,000 shares; after the capital increase, it will amount to EUR 3,895,828. The previous owners of wallbe have agreed to a lock-up agreement for two years.

Besides the current Managing Director Dr. Dominik Freund, wallbe's management team will be strengthened by Compleo's Management Board members Jens Stolze and Peter Gabriel. As planned, wallbe's founder and current Managing Director Lars Ulbricht is now resigning from his position. Our special thanks go to him. Through his excellent work he contributed significantly to the positive development and growth over the past few years. We are all the more pleased that he will remain closely associated with the Compleo Group in his role as a consultant.

As a result of the merger, Compleo will grow to around 350 employees and will now also have a presence in Sweden with a branch office. Georg Griesemann, Co-CEO of Compleo: "We welcome our new colleagues from wallbe as members of the Compleo family and look forward to working with them on the way to becoming one of Europe's leading manufacturers of charging stations and solutions. My colleagues on the Board and I are now particularly keen to lay the foundations for a strong, joint team while making the best possible use of the growth opportunities offered to us by the mobility revolution."