KOSTAL acquires Compleo

KOSTAL strengthens position in Europe with acquisition of Compleo Charging Solutions

Nic Ryan

Compleo, one of the leading providers of charging technology for electric vehicles in Europe, has been acquired by the KOSTAL Group in a bid to expand its existing product portfolio and customer base into electric vehicle charging technology.

KOSTAL specialises in automotive parts, solar charging inverters and bi-directional charging, with its technology already widely used in many electric vehicles across Europe.

Compleo supports its business customers with a variety of charging stations and a back-end for charging infrastructure, its offerings includes both AC and DC charging stations - the first DC charging stations on the market that comply with calibration regulations.

Compleo will continue to operate under the same brand name as an independent entity, continuing its growth and success in the e-mobility sector. The management board around Jörg Lohr and Peter Hamela, Chief Financial Officer (CFO) of Compleo, will stay on with the company. 

“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," commented Jörg Lohr, Chief Executive Officer (CEO) of Compleo Charging Solutions AG.

Both parties expect that the requirements will be met and that the takeover of Compleo into the KOSTAL Group can aim to take place in June 2023. 

Through the merger with KOSTAL, Compleo will benefit from development and production resources as well as the industrial company's presence in more than 20 countries.

"Compleo is known - among experts and users - as an extremely capable market player and innovation driver,” said Andreas Kostal, CEO of the KOSTAL Group.

“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 e-mobility across Europe . Together we will write a European success story."