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ABB E-mobility Raises $200 Mn in Pre-IPO Pvt Placement

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The company hopes to continue on its growth trajectory driven by both organic and M&A investments

Zurich-based ABB E-mobility, a leading electric vehicle (EV) charging solutions provider recently signed a pre-IPO private placement of around $200 million for its newly issued shares. Led by new minority investors, the transaction will close during the fourth quarter of 2022. ABB E-mobility said that it will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software.

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

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The private placement saw 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, also participated in the private placement.

Commenting on the new private placement, ABB CEO Björn Rosengren stated: “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.”

Richard Silén, MD of IH Long-term Equity Advisors AB stated: “We have followed the EV charging space for a 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.”

Meanwhile, the company also notified that 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. Interestingly, ABB has been scaling up its business through a number of acquisitions and investments this year, including In-Charge, Chargelab and Numocity, as well as the opening of a state-of-the-art production facility in Italy.

Over 130-years-old ABB is a Swiss technology leader in electrification and automation and is holding around 92 per cent of shares of ABB E-mobility, which is working to build a zero-emission future, with smart, reliable and emission-free EV charging solutions. The company’s solutions aim to connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated.


 

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