The KOSTAL Group is pleased to announce that an agreement to acquire Compleo Charging Solutions AG was signed on April 29, 2023.
For 111 years, the family-run KOSTAL Group has stood for high-quality electronic and mechatronic products with innovative solutions, high development and technological expertise as well as consistently reliable quality. It is important for the Group - also in the interests of its customers - to keep up with the times, identify trends and invest in forward-looking technologies. For this reason, KOSTAL began at an early stage to focus on stationary charging of electric vehicles as well, due to the megatrend of electromobility, and to take a leading position in this global growth market.
Therefore, KOSTAL decided to expand its presence in the growth market by acquiring Compleo Charging Solutions AG.
Andreas Kostal, CEO of the KOSTAL Group, describes his expectations of this acquisition:
"Compleo is known - among experts and users - as a competent market participant 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 electromobility in Germany and internationally. Together we will write a European success story."
The transaction is subject to regulatory approvals, only then can the transaction actually be completed. Both parties expect that the conditions will be met and that the takeover of Compleo by the KOSTAL Group can probably take place in June 2023.