POELLATH advises seller on sale of Südvolt to BKW AG

Munich — The energy supplier BKW AG (“BKW”) has acqui­red Südvolt GmbH (“Südvolt”), one of the last inde­pen­dent balan­cing energy service provi­ders in Germany. With this tran­sac­tion, BKW enters the German market for balan­cing energy and ancil­lary services and streng­thens its presence in one of the largest and most important flexi­bi­lity markets in Europe. The parties have agreed not to disc­lose the finan­cial details. POELLATH advi­sed the sellers on the legal and tax aspects of the transaction.

Munich-based Südvolt GmbH opera­tes a certi­fied virtual power plant (VPP) and offers all three control energy products (FCR, aFRR, mFRR). As a flexi­bi­lity provi­der, it provi­des primary control energy as well as secon­dary and tertiary control power for all four German trans­mis­sion system opera­tors. The exis­ting custo­mer port­fo­lio of over 1 GW of capa­city includes major and indus­trial custo­mers from energy-inten­­sive sectors as well as muni­ci­pal utili­ties. Südvolt has 20 employees and serves over 70 custo­mers with more than 200 gene­ra­tion units. 

BKW, based in Berne, is an inter­na­tio­nal energy and infra­struc­ture company. BKW employs over 12,000 people and is active in ten countries. 

POELLATH advi­sed the sellers on the legal and tax aspects of the tran­sac­tion with the follo­wing team:

Dr. Sebas­tian Rosen­tritt, LL.M. (Coun­sel, Lead, M&A/Private Equity, Munich)
Phil­ipp von Braun­schweig, LL.M. (Ford­ham) (Part­ner, Co-Lead, M&A/Private Equity, Munich)
Dr. Nico Fischer (Part­ner, Tax, Munich)
Daniel Wied­mann, LL.M. (NYU) (Asso­cia­ted Part­ner, Anti­trust, Frank­furt aM)
Dr. Saskia Bardens (Asso­ciate, Tax, Munich)
Lukas Wörlein (Asso­ciate, M&A/Private Equity, Munich)