ABB E-mobility, a global leader in electric vehicle (EV) charging solutions, announced that it has signed a pre-IPO private placement of approximately CHF200 million for newly issued shares, led by new minority investors.
ABB E-mobility will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software, a statement said.
The private placement includes participation from the long-term equity strategy fund of Interogo Holding, a foundation-owned international investment group based in Switzerland. moyreal holding ag (“moyreal”), a Swiss single-family office with a long-standing history in the automotive industry and advised by Helvetic Trust AG, and ABB E-mobility Chairman, Michael Halbherr, are also participating in the private placement, according to the statement.
ABB CEO Björn Rosengren said: “We remain committed to our strategy to separately list our E-mobility business subject to constructive market conditions. Meanwhile, having Interogo Holding, moyreal and Michael Halbherr as new co-shareholders in ABB E-mobility is a recognition of the company’s leading customer offering and market position. The private placement underpins our joint commitment to ensure ABB E-mobility’s fast growth in order to remain best positioned to lead the sector in EV charging solutions.”
“We have followed the EV charging space for long time and are impressed by what the ABB E-mobility team has achieved. ABB E-mobility is well-positioned to support the transformation towards a more sustainable future. We look forward to working with the team and co-shareholders”, says Richard Silén, MD of IH Long-term Equity Advisors AB, the long-term equity arm of Interogo Holding AG.
Following the appointment of Chairman Michael Halbherr, as well as three representatives from ABB, namely Morten Wierod (President of Electrification business area), Carolina Granat (Chief Human Resources Officer), and Andreas Wenzel (Head of Strategy and M&A), three additional independent Board members for ABB E-mobility have been named: Håkan Samuelsson, Annette Köhler and Peter Molengraaf. In addition, Richard Silén, Managing Director of IH Long-Term Equity Advisors AB, has been appointed to the Board.
Lilja, Morgan Stanley, and UBS acted as financial advisors and Lenz & Stähelin acted as external legal advisors to ABB on the private placement.
