ABB – ABB E-mobility raises approx. CHF200 million in a pre-IPO private placement to support its growth journey

November 21, 2022

ABB E-mobility, a global leader in electric vehicle (EV) charging solutions, today announced that it has signed a pre-IPO private placement of approximately CHF200 million for newly issued shares, led by new minority investors. 

 

The transaction will close during the fourth quarter 2022. 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.

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. Interogo Holding and moyreal believe that ABB E-mobility will play an important role in the transformation towards a more sustainable society. ABB remains a committed partner to ABB E-mobility with a shareholding of approximately 92 percent, providing continued access to funding and supporting its future growth journey.

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.

 

Board of Directors fully appointed

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.

The Board of Directors, covering expertise across the fields of automotive, energy, finance and digitalization, has been established to govern the division in the spirit of an agile and fast-moving independent company.

ABB E-mobility is a global market leader in building a zero-emission future, with smart, reliable and emission-free EV charging solutions. Since the beginning of the year, the company has significantly scaled up its business, also through a number of acquisitions and investments, including In-Charge, Chargelab and Numocity, as well as the opening of a state-of-the art production facility in Italy and the US footprint expansion.

Lilja, Morgan Stanley, and UBS acted as financial advisors and Lenz & Stähelin acted as external legal advisors to ABB on the private placement.

Source
ABB 

EMR Analysis

 

More information on ABB: See full profile on EMR Executive Services

More information on Björn Rosengren (Chief Executive Office, ABB): See full profile on EMR Executive Services

More information on Carolina Granat (Chief Human Resources Officer and Member of the Executive Committee, ABB + Member of the Board of Directors, ABB E-mobility Holding AG): See full profile on EMR Executive Services

More information on Andreas Wenzel (Head of Strategy and M&A, ABB + Member of the Board of Directors, ABB E-mobility Holding AG): See the full profile on EMR Executive Services

More information on ABB Electrification: https://new.abb.com/about/our-businesses/electrification + ABB’s Electrification business offers a wide-ranging portfolio of products, digital solutions and services, from substation to socket, enabling safe, smart and sustainable electrification. Offerings encompass digital and connected innovations for low- and medium-voltage, including EV infrastructure, solar inverters, modular substations, distribution automation, power protection, wiring accessories, switchgear, enclosures, cabling, sensing and control.

More information on Morten Wierod (President Electrification and Member of the Executive Committee, ABB + Member of the Board of Directors, ABB E-mobility Holding AG): See the full profile on EMR Executive Services

More information on ABB eMobility: https://e-mobility.abb.com/about/  + We are the global leader in EV charging1 (1 By revenues (excluding China)) technology with the highest uptime and largest installed base of DC fast chargers in the market. Using critical cloud-based connectivity, we remotely diagnose, cure infrastructure and update in-house developed software. With more than 13 years of experience in DC fast charging and commercial products introduced since May 2010, we have an unparalleled reach with sales of more than 600,000 electric vehicle chargers across more than 88 markets, including more than 30,000 fast chargers.

To continue our leadership in this fast-moving space and create a platform for future growth, ABB is transitioning the E-mobility Division into a stand-alone business. With E-mobility as separate legal structure, we create a platform for accelerated growth and value creation in this business.

At a glance:

  • 1,000 employees – 350 R&D engineers
  • 40,000+ DC chargers sold in 85 countries
  • 800,000+ AC chargers, including via Chargedot
  • 42m charging sessions enabled
  • 470GWh power delivered
  • 6 Start-ups in E-mobility space (invested)

Main Segments:

  • Single-home residential charging
  • Apartment, hotel & workplace destination charging
  • Public commercial parking
  • Fast-charging roadside stations
  • Commercial fleet
  • Industrial fleet
  • Heavy-duty truck charging
  • Bus charging

More information on Michael Halbherr (Chairman, ABB E-mobility Holding AG): See the full profile on EMR Executive Services

More information on Frank Mühlon (President, ABB’s E-mobility Division): See the full profile on EMR Executive Services

More information on InCharge Energy: https://inchargeus.com + In-Charge Energy is electrifying transportation fleets to improve public and planetary health, quality of life, and equitable economic opportunities for all. The veteran In-Charge Energy team has over 50 years of experience in the EV industry including Tesla, BMW, ABM, NRG Energy, EVGo, Electrify America and Innogy e-Mobility. InCharge Energy is an energy solutions company that is accelerating electrification of the transportation industry by providing a comprehensive scalable e-fleet solution. We tailor our solutions to private and public commercial fleets, electric vehicle OEMs, ride-share operators, municipalities and commercial/residential facilities owners.

More information on ChargeLab: https://www.chargelab.co/ + ChargeLab is the operating system for EV chargers. We’re the back-end software behind North America’s leading EV fleets, charging networks, and charging sites.

More information on Numocity: https://www.numocity.com/ + Intelligent Platform for Energy as a Service. Digital SaaS Platform For Energy Delivery To Electric Vehicles

Intelligent Charging Management Platform for Managing and Monetizing Infrastructure of ‘Energy as a service’ companies.

Founded in 2018 and based in Bangalore, India, Numocity is a market leader in India’s EV charging sector, offering a cloud-based digital platform that allows consumers and fleet operators to use a network of fixed chargers or battery swapping solutions on a “pay as you go” basis. The platform is also able to monitor the impact of energy use on the electricity grid. ABB already made an initial investment of seven percent as part of seed stage venture capital funding three years ago.

More information on Ravikiran Annaswamy (Co-Founder & CEO, Numocity): https://www.numocity.com/about-us-2/ + https://www.linkedin.com/in/aravikiran/

 

More information on The M&A Advisor: https://www.maadvisor.com + The M&A Advisor was founded in 1998 to publish insights and intelligence on mergers and acquisitions. Over the past twenty two years, we have established and now serve the world’s premier organization of M&A, Turnaround and Finance professionals.

More information on Roger Aguinaldo (Founder & Co-Chairman, The M&A Advisor): https://www.linkedin.com/in/rogeraguinaldo/

 

More information on Interogo Holding AG: https://www.interogoholding.com/ + Interogo Holding is a foundation-owned investment group. Our investment strategies include private and long-term equities, real estate, infrastructure and liquid assets.

Our investment approach is based on the belief that long-term sustainable competitiveness can only be achieved when businesses create value both for their owners and for other stakeholders, including co-workers, society and the environment.

More information on Henrik Jonsson (CEO, Interogo Holding AG): https://www.interogoholding.com/governance/team/

More information on Richard Silén (MD, IH Long-term Equity Advisors AB, Interogo Holding AG + Member of the Board of Directors, ABB E-mobility Holding AG): See full profile on EMR Executive Services

 

More information on Moyreal Holding AG: https://moyreal.ch/ + moyreal immobilien ag manages a real estate portfolio with predominantly residential uses throughout switzerland. it wants to offer current and future generations of tenants an attractive and livable living environment and promote innovations through sustainable offers. for moyreal immobilien ag, new forms of living, changed living and mobility behavior are the obligation to pursue innovative paths while ensuring high product quality.

 

More information on Helvetic Trust AG: https://www.helvetic-trust.ch/html/en/e_home.htm + Helvetic Trust was founded in 2001 by Kaspar Grob. We have offices in Zurich, Bern and Lausanne, and a representative office in London. Our headquarters is located in Zurich and 100% of our share capital is held by the active partners.

Our financial independence and the avowed quality of our consulting services help guarantee that our activities remain geared to the long term and provide an integrated offering with the interests of our discriminating clients at heart.

More information on Kaspar Grob (Founder, Chairman of the Board of Directors, Helvetic Trust AG): https://www.helvetic-trust.ch/html/en/e_ueber_uns_team_london.htm

 

More information on Polestar: https://www.polestar.com/global/ + We are an electric performance brand, utilising design and innovation to accelerate the shift to sustainable mobility. Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (“Polestar”) is a Swedish premium electric vehicle manufacturer. Founded by Volvo Car AB (publ.) (together with its subsidiaries, “Volvo Cars”) and Zhejiang Geely Holding Group Co., Ltd (“Geely”), in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.

Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.

More information on Thomas Ingenlath (CEO, Polestar): https://investors.polestar.com/corporate-governance/management-team + https://www.linkedin.com/in/thomas-ingenlath-2625b617/

More information on Håkan Samuelsson (Chairman of the Board, Polestar + Independent Member of the Board of Directors, ABB E-mobility Holding AG):  See full profile on EMR Executive Services

 

More information on DKSH: https://www.dksh.com/global-en/home + In 2008, DKSH embarked on a global branding initiative with the aim of establishing DKSH as a strong global services brand for the entire Group. In this process we repositioned the company, and created a distinctive new business category, “Market Expansion Services”. This expression clearly specifies what we do best: helping other companies and brands to grow their business in new or existing markets.

DKSH helps companies to grow their business in existing markets and expand into new ones. We do this by delivering the services our business partners need to achieve their goals, Market Expansion Services.

More information on Prof. Dr. Annette Gisela Köhler (Member of the Board of Directors, DKSH + Independent Member of the Board of Directors, ABB E-mobility Holding AG): See full profile on EMR Executive Services

 

More information on Peter Molengraaf (Green investor and former Energy Executive + Independent Member of the Board of Directors, ABB E-mobility Holding AG): See full profile on EMR Executive Services

 

More information on Lilja: https://www.liljaco.com/ + Lilja & Co. is an independent equity capital markets advisory firm. We advise company owners, founders and managements in connection with equity offerings (e.g. IPO, Secondaries), dual track exit processes or other equity-related situations. The firm was founded in 2004 by Robert Lilja.

Lilja & Co. has advised on a large number of European capital market transactions across a variety of industry sectors. We are market leading in IPO and dual track exit advisory in the German speaking countries and one of the leading players in Europe.

 

More information on Morgan Stanley: https://www.morganstanley.com/ + Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals.

 

More information on UBS: https://www.ubs.com/ch/en.html + UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. The largest truly global wealth manager.

We provide financial advice and solutions to private, institutional and corporate clients worldwide, as well as private clients in Switzerland.
Headquartered in Zurich, Switzerland, we are present in all major financial centers worldwide.

 

More information on Lenz & Stähelin: https://www.lenzstaehelin.com/en/ + Lenz & Staehelin has played an active part in the biggest deals in recent Swiss business history. Our approach combines breadth, depth and focus. Due to a unique blend of specialist knowledge and the ability to understand the issues affecting different professions and industries, we are able to find solutions that are comprehensive yet also work in practice. Each project is led by an experienced partner who serves as a personal contact, fully understands your objectives and can expertly represent your needs.

To this end, we cover the entire spectrum of business law services without having to rely on external experts.

 

 

EMR Additional Notes:

  • IPO (Initial Public Offering):
    • When a private company first sells shares of stock to the public, this process is known as an initial public offering (IPO). In essence, an IPO means that a company’s ownership is transitioning from private ownership to public ownership. For that reason, the IPO process is sometimes referred to as “going public.”

 

  • Mergers and Acquisitions (M&A):
    • Is a general term that describes the consolidation of companies or assets through various types of financial transactions, including mergers, acquisitions, consolidations, tender offers, purchase of assets, and management acquisitions

 

  • Software vs. Hardware vs. Firmware: 
    • Hardware is physical: It’s “real,” sometimes breaks, and eventually wears out.
      • Since hardware is part of the “real” world, it all eventually wears out. Being a physical thing, it’s also possible to break it, drown it, overheat it, and otherwise expose it to the elements.
      • Here are some examples of hardware:
        • Smartphone
        • Tablet
        • Laptop
        • Desktop computer
        • Printer
        • Flash drive
        • Router
    • Software is virtual: It can be copied, changed, and destroyed.
      • Software is everything about your computer that isn’t hardware.
      • Here are some examples of software:
        • Operating systems like Windows 11 or iOS
        • Web browsers
        • Antivirus tools
        • Adobe Photoshop
        • Mobile apps
    • Firmware is virtual: It’s software specifically designed for a piece of hardware
      • While not as common a term as hardware or software, firmware is everywhere—on your smartphone, your PC’s motherboard, your camera, your headphones, and even your TV remote control.
      • Firmware is just a special kind of software that serves a very narrow purpose for a piece of hardware. While you might install and uninstall software on your computer or smartphone on a regular basis, you might only rarely, if ever, update the firmware on a device, and you’d probably only do so if asked by the manufacturer, probably to fix a problem.