Thursday, November 21, 2024
Infrastructure and TechnologyLatestNews

Kostal Group acquires Compleo Charging Solutions

European charging firm Compleo Charging Solutions has been acquired by automotive parts and charging specialist Kostal Group.

The Dortmund-based company will see its existing product portfolio and customer base expanded in the area of EV charging technology by Kostal – a family-owned firm specialising in automotive parts, solar and bi-directional charging.

Compleo will join the KOSTAL Group and continue to operate as an independent brand name – continuing their European growth success in e-mobility.

Both parties expect the deal to be finalised by June 2023 with the merger creating development and production resources for Compleo – and the industrial company’s presence in more than 20 countries. The firm’s recently introduced product portfolio can  also be offered internationally with custom-fit expertise and experienced support. The Compleo Big 5 include five products in four to six variants each – so users get charging options they need.

The management board around Jörg Lohr and Peter Hamela, Chief Financial Officer (CFO) of Compleo, will stay on with the company. The announcement said they “will continue to use their expertise in the successful restructuring of the past months and to accompany the integration into the KOSTAL Group”.

Jörg Lohr, Chief Executive Officer (CEO) of Compleo Charging Solutions, said: “We are very pleased that we were able to bring our investor process to a good end. KOSTAL is the partner of choice for us with great know-how, industrial production capacities as well as a solid and sustainable corporate strategy,”

Andreas Kostal, CEO of the KOSTAL Group, said: “Compleo is known – among experts and users – as a an extremely capable market player and innovation driver. The highly motivated and reliable team, an attractive product and service portfolio as well as a broad and growing customer base make Compleo a partner of choice for us.

“We welcome the Compleo team to the KOSTAL Group. If we make skilful use of the complementary strengths of the two companies, we will give important impetus to emobility across Europe . Together we will write a European success story.”

Image courtesy of Compleo

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