Landis+Gyr has announced the acquisition of a 75% stake in Etrel, enhancing its position in the electric vehicle market and expanding its suite of energy management solutions.

Information on the Target

Landis+Gyr (LAND.SW), a prominent provider of integrated energy management solutions, has entered into a binding agreement to acquire a 75% stake in Etrel d.o.o., an innovative provider of interactive charging hardware and software solutions for electric vehicles, headquartered in Grosuplje, Slovenia. The acquisition is valued at a mid-range double-digit million Euro purchase price. Following the transaction, Etrel's current management will retain a 25% ownership stake in the company, which is expected to close in June 2021, pending regulatory approvals and customary closing conditions. Landis+Gyr has also secured the option to acquire the remaining 25% share of Etrel by May 2024.

Industry Overview in Slovenia

Slovenia is experiencing a significant transformation in its energy landscape, particularly with the growing adoption of electric vehicles (EVs). The Slovenian government has committed to fostering sustainable mobility through various initiatives, including financial incentives for electric vehicle purchases and investments in charging infrastructure. This commitment is aligned with broader European Union objectives aimed at reducing carbon emissions and promoting renewable energy usage.

The EV infrastructure market within Slovenia is evolving rapidly, with an increasing number of companies recognizing the potential of interactive charging solutions. As consumer demand for EVs grows, demand for