KOSTAL Group Completes Acquisition of Compleo Group’s Operating Business
The KOSTAL Group has successfully finalized the acquisition of the entire operating business of the Compleo Group. With this acquisition, Compleo now becomes part of the global KOSTAL Group. Founded 111 years ago, KOSTAL is renowned for its expertise in automotive and industrial electrics. This strategic move is aimed at establishing both KOSTAL and Compleo as the European market leaders in charging infrastructure and promoting the growth of emobility.
The integration into the KOSTAL Group allows Compleo to leverage its customer base in expanding charging infrastructure on a global scale while remaining an independent brand and company within the KOSTAL umbrella.
As a world market leader in onboard chargers, KOSTAL has already made strides in solar charging, including solar inverters, and is looking towards the future of bidirectional charging. The collaboration between KOSTAL and Compleo will harness their combined innovative power to support the expansion of the charging technology ecosystem and foster sustainable mobility. The backend software holds promise for developing new business models beyond hardware solutions, particularly in conjunction with bidirectional charging, which is a key area of focus for KOSTAL.
With a strong presence in more than 20 countries worldwide, the KOSTAL Group’s development and production resources, along with the well-established national companies in various markets, provide a robust foundation for Compleo’s growth. Compleo and the KOSTAL Charging business unit will be merged under the Compleo umbrella, offering employees a promising long-term future within the global family business.
The collaboration between KOSTAL and Compleo will enable the provision of a comprehensive portfolio of charging infrastructure for electric vehicles, complementing solar charging and vehicle-to-X (V2X) charging solutions. This integrated approach is designed to address the challenges posed by the changing energy landscape. Compleo’s introduction of innovative high-power chargers (HPC) will facilitate ultra-fast charging for customers.
Joerg Lohr, CEO of Compleo, expressed his enthusiasm for the merger, stating, “Compleo and KOSTAL are combining their core competencies in uni- and bi-directional charging, charging infrastructure operation, and calibration compliance. Together, we are committed to becoming the market leader in charging technology in Europe. We are excited about the opportunities ahead, and Compleo is optimally positioned within the KOSTAL Group to expand our stationary charging business continuously.”
Dr. Gregor M. Schmeken, Member of the Executive Board of the KOSTAL Group and Chairman of the Industry Division, added, “E-mobility is a dynamic growth market that demands well-thought-out and innovative solutions. With KOSTAL and Compleo joining forces, we will become a strong brand for sustainable electromobility made in Germany. That’s how we shape the future!”
Andreas Kostal, CEO of the KOSTAL Group, expressed his expectations for the successful acquisition, saying, “With the acquisition of Compleo, the KOSTAL Group complements its business activities with a focus on the trend of energy efficiency. We now cover a significant part of the electrification of different areas of life, both on the hardware and software sides, ranging from renewable energy generation and storage to stationary and mobile charging of electric vehicles and intelligent control of electric drives. I look forward to our further development with Compleo in these growth markets and welcome the employees to our group.”