Gleiss Lutz advises Heinz Dürr Invest GmbH on the sale of its shares in e-mobility start-up Plugsurfing
Gleiss Lutz advised Heinz Dürr Invest GmbH, one of the existing investors in the Berlin-based e-mobility start-up Plugsurfing, on the sale of the company to the Finnish charging infrastructure operator Fortum Charge & Drive. The parties have agreed not to disclose the purchase price.
The Finnish energy provider has acquired 100 percent of the shares in Plugsurfing, but the two Plugsurfing founders will continue working for the company and the brand will also remain the same.
The free Plugsurfing charging and payment app provides electric vehicle drivers with a standard payment method for most of the major charging station operators in Europe. At present, the start-up connects around 50,000 electric vehicles and 200 charging networks in Europe and offers charging access at approx. 65,000 charging stations in more than 24 European countries.
Fortum Charge & Drive is listed on the Finnish Stock Exchange (sales 2017: 4.5 billion euros) and is continuing to expand with the acquisition of the Berlin-based start-up. The Finnish company currently has a strong presence in Scandinavia in particular: 75,000 users can charge their vehicles at around 1,700 charging stations in Scandinavia. In the B2B market, charging station operators can manage their stations around the world through cloud-based remote access.
Heinz Dürr Invest GmbH was advised by Dr. Martin Viciano Gofferje (partner, lead) and Dr. Micha Pfarr (both corporate/M&A, both Berlin).