WTS advises Varo Energy on the takeover of elexon

WTS, a global full-service provider of tax and financial & deal advisory services, has advised the Swiss energy group Varo Energy ("VARO" for short) on the tax aspects of the acquisition of elexon GmbH, a company specializing in logistics fleets and charging infrastructure.

Elexon was founded as a joint venture of SMA Solar Technology AG ("SMA") in 2019. Since then, the company has installed charging stations and e-charging parks for corporate/industrial fleets in the logistics sector in Germany and Europe. Elexon has now been sold with all shares to VARO, a leading European energy company.

With elexon, VARO will continue its growth trajectory, particularly in the e-mobility business, and further leverage the new synergies in the energy and mobility sector.

The takeover was comprehensively supported by a specialized M&A team from WTS. The tax team was responsible for preparing the tax due diligence and structuring the acquisition for tax purposes. They also negotiated the SPA tax clause.

Following the signing of the purchase agreement, the takeover is expected to take place in the first quarter of 2024. The parties have agreed not to disclose the purchase price.

Advisory teams

Tax consultants WTS:

Axel Wagner (Project Lead)

Christian Diener

Johannes Maximilian Hirt

Martin Wald

Maximilian Benkert

Lena Reifenberger

About VARO

Founded in 2012, VARO is a leading European energy company that produces, stores and distributes conventional fuels and sustainable energy and services.

Further information: varoenergy.com