KOSTAL Group, a family-owned business with over a century of experience in automotive solutions, solar charging inverters, and bi-directional charging, has acquired German EV giants Compleo Charging Solutions AG, bringing the whole Compleo family into the KOSTAL Group.
Compleo, with a UK subsidiary in Oxfordshire, is a leading full-service charging technology provider for electric vehicles (EVs) across Europe. The news completes Compleo AG’s bidding with investors since undergoing insolvency proceedings in December 2022, definitively securing the company’s future.
German-based Compleo, along with all of its subsidiaries companies in the UK, Switzerland, Austria and Sweden will join the KOSTAL Group and operate as an independent entity under the brand name Compleo as the company seeks to build on the successes of previous UK projects with Network Rail, Opcharge and wattif.
Andreas Kostal, CEO of the KOSTAL Group, said:
“Compleo is known – among experts and users – as 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.”
The Compleo management board, including CEO Jörg Lohr and CFO Peter Hamela, will remain with the company, and Valentin Scheltow will also stay as CEO of Compleo UK. They will use their expertise in the successful restructuring of the past months to lead the integration into the KOSTAL Group.
After an enormously successful 2022, turning over €3.3 billion through the year, KOSTAL Group are keen to invest in innovative, forward-thinking companies. Oxfordshire-based Compleo’s portfolio of EV charging success with CPOs, businesses and fleets proved to be an attractive opportunity.
The merger will benefit Compleo in terms of development and production resources, and extend the company’s presence in more than 20 countries.
The Compleo Big 5 product portfolio, combined with KOSTAL’s innovative product strategy, will propel emobility across a wide reach of nations. Together, Compleo and KOSTAL intend to become the market leader in semi-public and public charging infrastructure in Europe.