Noerr advises Compleo on sale of main assets to KOSTAL

With a team headed by Marlies Raschke and Stephan Schulz, Noerr has advised listed company Compleo Charging Solutions AG on the sale of its main assets to the Kostal Group during debtor-in-possession proceedings.

Compleo is one of the leading all-round providers of charging technology for electric vehicles in Europe. The company filed for insolvency in December 2022.

To further expand its product portfolio and customer base in the field of stationary charging technology, KOSTAL, a strategic investor, is taking over Dortmund-based Compleo. The KOSTAL Group, headquartered in Lüdenscheid, Germany, generated sales of around €3.3 billion in 2022 with approximately 19,100 employees. KOSTAL is taking over the Compleo Group’s business operations and will continue the activities in the area of stationary charging technology under the brand name “Compleo” within its own group in the future.

Compleo will soon be submitting an insolvency plan to Dortmund local court. After the court-appointed insolvency monitor and the creditors’ committee have consented to the transaction and the insolvency plan has become effective, the insolvency plan is to form the legal basis for the corporate restructuring of the Compleo Group, which is to occur prior to the closing of the acquisition. Closing of the transaction is subject to clearance by the regulatory authorities and fulfilment of the closing conditions. Compleo and the investor currently expect closing to take place in June 2023.

Since the beginning of the insolvency proceedings, Compleo has been assisted in the debtor-in-possession management by a team from GRUB BRUGGER, led by Jochen Sedlitz, who is authorised to represent the group. The lawyer Martin Lambrecht is acting as court-appointed insolvency monitor.

Advisors to Compleo: Noerr

Lead: Marlies Raschke (partner, Insolvency/M&A, Dresden), Stephan Schulz (partner, Capital Markets, Hamburg)

Capital Markets: Jörg-Peter Kraack (associated partner, Hamburg), Jan Lohse (associate, Hamburg)

Insolvency: Simone Schönen (partner, Hamburg), Ellen Schäuffele (associate, Berlin)

Corporate/M&A: Vanessa Hoffmann Linhard (associated partner, Hamburg)

Antitrust & Competition: Till Steinvorth (partner), Markus Brösamle (senior associate, Berlin), Jan-Hendrik Fitzl (associate, Hamburg)

Employment: Benjamin Jahn (partner, Munich), Laura Adjan (associate, Munich)

IP: Sebastian Wündisch (partner, Dresden)