Merger – HanseWerk and Stadtwerke Lübeck establish joint grid operator

HKCF acted as exclusive M&A adviser to Stadtwerke Lübeck GmbH

HanseWerk and Stadtwerke Lübeck announce formation of regional network company “TraveNetz” effective July 1.

New joint venture consolidates 119 electricity and gas networks across Greater Lübeck region. HanseWerk AG and Stadtwerke Lübeck GmbH have jointly announced the formation of TraveNetz GmbH, a new regional utility network company established to consolidate and operate electricity and gas infrastructure across the Greater Lübeck area.

As part of the transaction, approximately 100 municipal electricity and gas concessions previously operated by HanseWerk and its subsidiaries Schleswig-Holstein Netz AG and HanseGas GmbH have been contributed into Netz Lübeck GmbH, which already managed local network operations. Following this substantial asset transfer, Netz Lübeck GmbH has been renamed TraveNetz GmbH. In return, Schleswig-Holstein Netz AG has acquired a 25.1% minority stake in the newly formed entity, while Stadtwerke Lübeck GmbH retains 74.9% majority ownership. Sven Bäumler has been appointed as Managing Director of TraveNetz GmbH.

With approximately 500 employees and a clear focus on municipal cooperation, TraveNetz is positioned as a long-term infrastructure partner to cities, towns, and regional authorities throughout its service area. The company will focus on key infrastructure challenges, including e-mobility, integration of renewable energy sources, and digitalization of power grids.

“TraveNetz is set to become the strategic partner for municipalities in building the smart grid and Smart City infrastructure of tomorrow, while continuing to ensure operational excellence in classical network management,” said Dr. Jens Meier, Managing Director of Stadtwerke Lübeck GmbH.

“Two experienced energy companies are joining forces to provide integrated, high-performance utility services,” added Matthias Boxberger, CEO of HanseWerk AG and Chairman of the Supervisory Board of Schleswig-Holstein Netz AG. “TraveNetz combines local presence and deep regional knowledge with the technical strength and innovation capabilities of its parent companies.” The TraveNetz team operates in the communities it serves, ensuring close collaboration with local authorities and strong regional value creation. The company’s strategic orientation is fully aligned with the needs of municipal stakeholders, residents, and businesses in the region.

“Our aim is to be a reliable, solution-driven partner — technically competent, transparent, customer-focused, and personally accessible,” emphasized Sven Bäumler. “We will enhance our local presence and strengthen direct engagement with municipalities across the network area.”

“Our electricity and gas networks are the backbone of regional comfort, quality of life, and economic development. Increasingly, they are complemented by challenges in digitalization, decarbonization, and smart infrastructure. Together with municipalities, we will shape the answers to tomorrow’s infrastructure questions,” Bäumler added.

The TraveNetz service territory covers all or part of the following districts and municipalities: Bad Oldesloe-Land, Bargteheide-Land, Berkenthin, Lauenburgische Seen, Nordstormarn, Rehna, Sandesneben-Nusse, Schönberger Land, Kalkhorst, Ratekau, Stockelsdorf, Bad Schwartau, Reinfeld, and the Hanseatic City of Lübeck. With a customer base of approximately 368,000 residents, TraveNetz becomes one of the largest regional electricity and gas network operators in the federal state of Schleswig-Holstein.

Source: Travenetz