Launch of new grid company “Überlandwerk Mittelbaden”

HKCF acted as exclusive M&A Advisor

The two partners, Elektrizitätswerk Mittelbaden AG & Co. KG and Süwag Energie AG, have officially launched their joint venture. At a symbolic location—the Grinde-Hütte, where the network regions of the two companies converge—Dr. Ulrich Kleine (Board Member, E-Werk Mittelbaden), Mike Schuler, and Dr. Markus Coenen (Board Members, Süwag) signed the founding agreement for the new grid company “Überlandwerk Mittelbaden.” Operational activities are scheduled to commence on January 1, 2020.

“All discussions were held on an equal footing from the outset,” emphasized Schuler. “With Überlandwerk Mittelbaden, we are creating a future-oriented and competitive company, well-positioned to meet upcoming regulatory challenges and to ensure sustainable value creation in the Ortenau region. In doing so, we are also securing employment for our staff in the area.”
Dr. Kleine added: “Überlandwerk Mittelbaden brings together the expertise of two successful grid operators, with the aim of being a strong and reliable partner for the municipalities in the region.”

Süwag’s grid subsidiary, Syna, will transfer operation of the electricity networks in 20 municipalities across northern Ortenau and the Rastatt district to the new company. Netze Mittelbaden, the grid subsidiary of E-Werk Mittelbaden, will contribute the electricity networks of 34 municipalities within Ortenau. From January 2020, Überlandwerk Mittelbaden will be led by Managing Directors Michael Binder and Dr. Ole Wittko. Around 200 employees from both companies will serve the region from the existing operational sites.

Source: Acher und Bühler Bote