Quarton exclusively advised Grünwald Equity Industrie GmbH and other shareholders of Deutsche Energieversorgung GmbH (“DEV”) on the sale to EnBW Energie Baden-Württemberg AG (“EnBW”). Now the Leipzig-based provider of storage-based energy solutions is one of the largest energy supply companies in Germany. The acquisition is awaiting antitrust approval by Germany’s national competition regulator.
The strategies of the two companies complement each other perfectly. EnBW has been consistently expanding its portfolio for private customers in the field of decentralized energy solutions for years. DEV has established itself as a pioneer in the industry by developing intelligent storage-based energy solutions. As part of the EnBW family, the company will continue to operate independently under the brand name SENEC, which has been introduced to installers and end customers.
Since 2009, Deutsche Energieversorgung GmbH (DEV), headquartered in Leipzig, has been developing and producing smart energy storage systems under the trademark SENEC. With its license to market electricity directly, the company offers its customers maximum independence from external electricity suppliers. With more than 15,000 systems sold, SENEC is one of Europe’s most popular brands for innovative energy and storage solutions. With intelligent features such as SENEC. Cloud 2.0 and SENEC. cloud to go, the German manufacturer’s energy storage systems are among the most innovative and economical solutions on the market.
EnBW Energie Baden-Württemberg AG is one of the largest energy supply companies in Germany and Europe and supplies electricity, gas, water and energy-related products and services to around 5.5 million customers with a workforce of 20,000 employees. EnBW already responded to the fundamental changes due to the German Energiewende with a radical reorganization of the company in 2013. The EnBW 2020 strategy envisages the expansion of renewable energies to make them one of the main pillars of the EnBW business. Decentralized energy solutions will play a central role in this process.
Grünwald Equity invests in leading mid-market companies in the German-speaking region with a focus in the areas of production, retail and services. The long-term success of the company is the most important factor for Grünwald Equity. The team has extensive experience and an outstanding track record of acquisitions, operational support and management of mid-market companies.