Excellent exit: Investors sell sonnen to Shell
Frankfurt a. M. — The Frankfurt office of the international law firm Weil, Gotshal & Manges LLP has advised Inven Capital SICAV, a.s. (“INVEN”) on the sale of its shareholding in sonnen Holding GmbH (“sonnen”) together with further
The investors, including GE Ventures, eCapital, MVP, INVEN and SET Ventures have sold their stake in sonnen Holding GmbH (“sonnen”) to Shell Overseas Investment B.V..
sonnen, headquartered in Wilpoldsried, Germany, is a leading global provider of intelligent, decentralized electricity storage systems and a pioneer in technologies for a clean, decentralized and networked energy system. As one of the fastest growing technology companies in Germany and Europe, sonnen has already been awarded numerous international prizes. sonnen is represented with its products in numerous countries and has its own locations in Germany, Italy, the United Kingdom, Australia and the USA. Photo: white “sonnen” charger next to electric car being charged.
“sonnen is a leading global provider of intelligent, decentralized electricity storage systems, whose success is based on very customer-oriented innovations. The acquisition will henceforth enable us to offer an even wider range of products to our customers who want to choose reliable, affordable and clean energy,” said Mark Gainsborough, Shell’s executive vice president, New Energies. “Together, in line with Shell’s strategy to provide more and cleaner energy solutions to our customers, we can now move forward to build an energy system that puts the customer first.”
INVEN is a venture capital fund of the ČEZ Group, whose corporate purpose is focused on investments in clean-tech and smart-energy companies.
Advisors to INVEN: Weil, Gotshal & Manges LLP
The Frankfurt office of the international law firm WEIL advised Inven Capital SICAV, a.s. (“INVEN”) on the sale of its stake in sonnen Holding GmbH (“sonnen”). Weil’s Frankfurt office regularly advises INVEN on its investments, such as its investment in the start-up Cloud&Heat Technologies GmbH and the most recent financing round at Sunfire GmbH.
The Weil transaction team was again led by Frankfurt-based Corporate Partner Dr. Kamyar Abrar. He was supported by associates Thomas Weise, Aurel Hille and Steffen Giolda (all Corporate, Frankfurt).
eCapital, MVP and SET Ventures were represented in the transaction by the Munich office of the law firm GÖRG Rechtsanwälte, led by corporate partners Dr. Bernt Paudtke and Dr. Christian Glauer. Senior Counsel Michael Prinz zu Löwenstein from the Frankfurt office of King & Spalding LLP advised GE Ventures.
About SET Ventures
Since 2007, Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy system. SET Ventures focuses broadly on innovative energy generation, energy distribution and storage, and energy efficiency. SET Fund III provides early growth-stage capital to ventures that shape the energy system transition through smart software and services-based business models. For more information please visit www.setventures.com.
eCAPITAL AG, based in Münster, is a capital management company for alternative investment funds (AIF) according to the EuVECA regulation. The company is one of the leading venture capital investors in Germany and has been actively supporting innovative entrepreneurs in promising industries since 1999. The focus is on fast-growing companies in the software/IT, Industry 4.0, cleantech and new materials segments. eCAPITAL currently manages six funds with a subscription capital of over 240 million euros.
Weil, Gotshal & Manges is an international law firm with more than 1,100 lawyers, including approximately 300 partners. Weil is headquartered in New York and has offices in Boston, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, Paris, Beijing, Princeton, Shanghai, Silicon Valley, Warsaw and Washington, D.C.