ABB E-mobility today announced that it has signed a pre-IPO private placement of approximately CHF200 million (£177 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, 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%, providing continued access to funding and supporting its future growth journey.
“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.