Business Wire

ABB E-mobility Raises Approx. CHF200 Million in a Pre-IPO Private Placement to Support Its Growth Journey

Share

ABB E-mobility, a global leader in electric vehicle (EV) charging solutions, today announced that it has signed a pre-IPO private placement of approximately CHF200 million for newly issued shares, led by new minority investors. The transaction will close during the fourth quarter 2022. ABB E-mobility will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software.

The private placement includes participation from the long-term equity strategy fund of Interogo Holding, a foundation-owned international investment group based in Switzerland. moyreal holding ag ("moyreal"), a Swiss single-family office with a long-standing history in the automotive industry and advised by Helvetic Trust AG, and ABB E-mobility Chairman, Michael Halbherr, are also participating in the private placement. Interogo Holding and moyreal believe that ABB E-mobility will play an important role in the transformation towards a more sustainable society. ABB remains a committed partner to ABB E-mobility with a shareholding of approximately 92 percent, providing continued access to funding and supporting its future growth journey.

ABB CEO Björn Rosengren said: “We remain committed to our strategy to separately list our E-mobility business subject to constructive market conditions. Meanwhile, having Interogo Holding, moyreal and Michael Halbherr as new co-shareholders in ABB E-mobility is a recognition of the company’s leading customer offering and market position. The private placement underpins our joint commitment to ensure ABB E-mobility’s fast growth in order to remain best positioned to lead the sector in EV charging solutions.”

“We have followed the EV charging space for long time and are impressed by what the ABB E-mobility team has achieved. ABB E-mobility is well-positioned to support the transformation towards a more sustainable future. We look forward to working with the team and co-shareholders”, says Richard Silén, MD of IH Long-term Equity Advisors AB, the long-term equity arm of Interogo Holding AG.

Board of Directors fully appointed

Following the appointment of Chairman Michael Halbherr, as well as three representatives from ABB, namely Morten Wierod (President of Electrification business area), Carolina Granat (Chief Human Resources Officer), and Andreas Wenzel (Head of Strategy and M&A), three additional independent Board members for ABB E-mobility have been named: Håkan Samuelsson, Annette Köhler and Peter Molengraaf. In addition, Richard Silén, Managing Director of IH Long-Term Equity Advisors AB, has been appointed to the Board.

The Board of Directors, covering expertise across the fields of automotive, energy, finance and digitalization, has been established to govern the division in the spirit of an agile and fast-moving independent company.

ABB E-mobility is a global market leader in building a zero-emission future, with smart, reliable and emission-free EV charging solutions. Since the beginning of the year, the company has significantly scaled up its business, also through a number of acquisitions and investments, including In-Charge, Chargelab and Numocity, as well as the opening of a state-of-the art production facility in Italy and the US footprint expansion.

Lilja, Morgan Stanley, and UBS acted as financial advisors and Lenz & Stähelin acted as external legal advisors to ABB on the private placement.

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation.

Important notice about forward-looking information

This press release includes forward-looking information and statements which are based on current expectations, estimates and projections about the factors that may affect our future performance, including the economic conditions of the regions and industries that are major markets for ABB. These expectations, estimates and projections are generally identifiable by statements containing words such as “intends”, “expects”, “plans”, or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets or anticipated transactions, including but not limited to the proposed IPO. Some important factors that could cause such differences include, among others, business risks associated with the COVID-19 pandemic, the volatile global economic environment and political conditions including the conflict in Ukraine, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved. The foregoing list of factors is not exclusive and undue reliance should not be placed upon any forward-looking statements, including projections, which speak only as of the date made.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland

Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com

Investor Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Boomi Appoints Former Citrix Executive as President and CFO, and Former SAP Executive as CMO1.2.2023 15:20:00 CET | Press release

Boomi™, the intelligent connectivity and automation leader, today announced the appointment of former Executive Vice President (EVP) and Chief Financial Officer (CFO) at Citrix Arlen Shenkman as President and CFO, and former President, Corporate Marketing at SAP Alison Biggan as Chief Marketing Officer (CMO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230201005169/en/ After recently appointing Steve Lucas as CEO, Boomi adds Arlen Shenkman, former Executive Vice President and Chief Financial Officer of Citrix, and Alison Biggan, former President, Corporate Marketing at SAP, to its accomplished executive leadership team (Graphic: Business Wire) “Boomi believes that building and maintaining connections is fundamental to not only business, but humanity,” said Steve Lucas, CEO at Boomi. “Arlen and Alison’s extraordinary track records as enterprise software leaders at some of the most well-recognized brands in the industry — c

Vista Equity Partners Completes Acquisition of KnowBe41.2.2023 15:17:00 CET | Press release

KnowBe4, Inc. (“KnowBe4”), the provider of the world’s largest security awareness training and simulated phishing platform, today announced the completion of its acquisition by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, for $24.90 per share in cash. “Today’s acquisition is a significant milestone for the entire KnowBe4 team. It’s representative of our achievements to date, as well as our potential for continued long-term growth,” said Stu Sjouwerman, founder, Chairman and Chief Executive Officer of KnowBe4. “Vista provides the resources and operational expertise to enhance customer value. We’re thrilled to embark on this next chapter and realize our goals for addressing cybersecurity’s weakest link.” “The human element remains one of the most important yet neglected aspects of cybersecurity,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “Th

Rimini Street Announces Global Adoption of a Four-Day Workweek Model1.2.2023 15:01:00 CET | Press release

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products, and a Salesforce partner, today announced the global adoption of its popular four-day workweek program, named “Fabulous Fridays!,” through 2023. The decision to adopt the program for 2023 followed favorable results for both employees and the Company during a six-month trial phase in the second half of 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230201005440/en/ Rimini Street announced the global adoption of its popular four-day workweek program, named “Fabulous Fridays!,” through 2023. Rimini Street Listens, Measures, and Acts to Create a Better Workplace The bold decision to launch “Fabulous Fridays!” as a four-day workweek pilot in July of 2022 was an acknowledgement by Rimini Street’s leadership team of the physical fatigue and emotional

Snow Software Introduces New Global Partner Program to Drive Exponential Growth in Channel Ecosystem1.2.2023 15:00:00 CET | Press release

Snow Software, the global leader in technology intelligence, today announced a new global partner program designed to enable partners to support customers as they face complex market challenges around managing cost and mitigating risk, while delivering value more efficiently and effectively with Snow. The new program aims to drive exponential growth in the Snow channel ecosystem, creating new opportunities for partners to tap into an estimated and growing $11.5 billion Technology Intelligence market. Developed in collaboration with its current channel ecosystem, the new Snow partner program includes better support for multiple business models of partners, encouraging the creation of value-added services and driving tangible customer success by leveraging Snow technology. The program includes more partner incentives and rewards than the current program, while streamlining collaboration with Snow to better deliver value to shared customers. “Today’s economic climate demands more from eve

Hyper-scaling platform Kubeark raises $2.8m pre-seed round to help SaaSify software products and enable cloud adoption1.2.2023 15:00:00 CET | Press release

Kubeark, an open and infrastructure-agnostic platform which has made it its mission to support enterprises fix their scalability, delivery and lifecycle management challenges, has raised $2.8 millionin a pre-seed funding round. The investment round was led by Credo Ventures, with participation from Seedcamp, LAUNCHub Ventures, 500 Emerging Europe, and others. “Cloud computing continues to be an important technology trend, with ever more businesses becoming cloud-native. In the process, a major persisting challenge they face is to make applications more scalable and easier to deploy. We believe Kubeark is addressing this need by abstracting the complexity and allowing the user to define business rules that power the deployment process,” said Ondrej Bartos, Co-founder and General Partner at Credo Ventures. The pandemic forced CIOs, CFOs and CTOs to implement flexible cloud strategies and compelled businesses everywhere to look at tools that allowed them to take control of their mission-c