Grünwald/ Grünwald — The energy group EnBW Energie Baden-Württemberg AG acquires 100% of the shares in DEV — Deutsche Energieversorgung GmbH. P+P advised the majority seller Grünwald Equity Industrie GmbH. The transaction is subject to approval by the relevant antitrust authorities.
DEV is a Leipzig-based manufacturer of energy storage systems with around 120 employees. Founded in 2009, the company develops and produces intelligent electricity storage systems for homes and commercial enterprises under the brand name SENEC. Features such as the SENEC.Cloud 2.0 and the SENEC.Cloud To Go enable owners of photovoltaic systems and electricity storage units to consume all of the solar electricity they generate themselves and to cover their energy needs for heating and electromobility by generating their own electricity.
Grünwald Equity invests through Grünwald Equity Industries & Services GmbH and Grünwald Equity Industrie GmbH in medium-sized companies, especially in German-speaking countries. Grünwald Equity had first invested in DEV in the summer of 2016.
Advisors Grünwald Equity Industrie: P+P Pöllath + Partners
— Philipp von Braunschweig (Partner, Lead Partner, M&A/Private Equity, Munich)
— Alexander Pupeter (Partner, Tax Law, Munich)
— Tobias Jäger (Counsel, Corporate Law, Munich)
— Daniel Wiedmann (Counsel, Antitrust Law, Frankfurt)
— Dr. Sebastian Rosentritt (Associate, Corporate Law, Munich)