ABB E-mobility, an electric vehicle (EV) charging solution provider, 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 of 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 a 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.
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.
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company's solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated.
