E.ON’s Acquisition of Majority Stake in gridX

Luther advised E.ON on the deal. Dechert advised GridX. GSK Stockmann advised Coparion GmbH & Co. KG.

The energy group E.ON is further advancing the digitalisation of the energy world with a majority acquisition of the start-up gridX, the leading provider of smart grid intelligence in the energy sector.

E.ON, based in Munich and Aachen, was founded in 2016 and develops digital platform solutions for networking, controlling and optimising decentralised energy resources such as electric cars. Among other things, the companies installed an intelligent load management system at the E.ON headquarters in Essen, which enables the dynamic charging of electric vehicles.

gridX is a leading smart grid company based in Munich and Aachen, which offers a scalable infrastructure for connecting and controlling decentralised energy resources with its digital energy platform XENON. gridX, founded by Andreas Booke and David Balensiefen, develops digital, intelligent solutions such as edge and cloud services for load and energy management in order to make renewable energies accessible to everyone, independent of manufacturers. They ensure that available energy is dynamically distributed, charging processes are intelligently optimised and peak loads are avoided. Companies such as E.ON, Viessmann and DHL are already working with individually developed solutions from gridX.

The gridX business model is in line with current developments in the energy industry and thus fits ideally into the energy group’s portfolio. The digital smart grid platform “Xenon” developed by gridX offers comprehensive options for controlling and holistically optimising the various decentralised plants. E.ON customers in Germany and Europe can thus keep a close eye on their energy consumption and intervene to control it at any time.

The Luther team included Philipp Dietz, LL.M. (Lead Partner), Dr Björn Simon (Partner), Dr Madeleine Martinek, LL.M. (Associate), Falco Rohrberg, LL.M. (Associate), Philipp Glock (Partner), Michael Ströbel, LL.M. (Senior Associate), Dr Holger Stappert (Partner and Head of the Industry Group Energy), Cosima Flock (Senior Associate), Lara Paul (Associate), Dr Maximilian Dorndorf (Partner and Head of the Industry Group Mobility & Logistics), István Fancsik, LL.M. (Senior Associate), Dr Bela Jansen (Partner), Christoph Schauenburg, LL.M. (Partner) and Stefan Jokel (Senior Associate).

The E.ON SE inhouse was led by Dr Tobias Rösner.

The Dechert team included Giovanni Russo (Lead); Associates: Christian Böhme, Sonja Feser, Florian Leitsbach (all Corporate/M&A).

The GSK Stockmann team included Markus Söhnchen (lead, corporate law, PE/VC, M&A), Dominik Berka (tax law); Associates: Kristina Hartmann.

Involved fees earner: Christian Böhme – Dechert; Sonja Feser – Dechert; Florian Leitsbach – Dechert; Giovanni Russo – Dechert; Dominik Berka – Gsk Stockmann; Kristina Hartmann – Gsk Stockmann; Markus Söhnchen – Gsk Stockmann; Philipp Dietz – Luther Rechtsanwaltsgesellschaft mbH; István Fancsik – Luther Rechtsanwaltsgesellschaft mbH; Cosima Flock – Luther Rechtsanwaltsgesellschaft mbH; Philipp Glock – Luther Rechtsanwaltsgesellschaft mbH; Bela Jansen – Luther Rechtsanwaltsgesellschaft mbH; Stefan Jokel – Luther Rechtsanwaltsgesellschaft mbH; Madeleine Martinek – Luther Rechtsanwaltsgesellschaft mbH; Lara Paul – Luther Rechtsanwaltsgesellschaft mbH; Falco Rohrberg – Luther Rechtsanwaltsgesellschaft mbH; Christoph Schauenburg – Luther Rechtsanwaltsgesellschaft mbH; Björn Simon – Luther Rechtsanwaltsgesellschaft mbH; Holger Stappert – Luther Rechtsanwaltsgesellschaft mbH; Michael Ströbel – Luther Rechtsanwaltsgesellschaft mbH;

Law Firms: Dechert; Gsk Stockmann; Luther Rechtsanwaltsgesellschaft mbH;

Clients: Coparion GmbH & Co. KG; E.ON SE; gridX GmbH;

Author: Federica Tiefenthaler