P+P advises the shareholders of Torqeedo GmbH on sale to DEUTZ
DEUTZ AG, a Cologne-based engine manufacturer, has acquired Torqeedo GmbH. Torqeedo will be run as an independent subsidiary of DEUTZ and will advance the development of its award-winning high-tech marine products under its established brand name Torqeedo and will retain the previous management team.
Torqeedo is the industry leader in marine electromobility. The company was founded in Starnberg, Germany in 2005 and develops and manufactures electric and hybrid drives from 0.5 to 100 kW for recreational and commercial use. Since entering the market in 2006, Torqeedo has achieved an average yearly growth rate of 35%. The turnover in the most recent business year amounted to EUR 25 million. The company employs 130 people at its locations in Gilching near Munich, Crystal Lake, Illinois (USA) and Bangkok, Thailand.
DEUTZ is one of the worldwide leading manufacturers of innovative drives. The company's core competencies are the development, production, distribution and servicing of power trains for professional use. The engine specialist offers a broad range of liquid and air-cooled engines with capacities of 19 to 620 kW that are employed in, inter alia, construction and agricultural equipment, material handling equipment, stationary equipment, as well as commercial and railway vehicles.
P+P Pöllath + Partners advised Torqeedo's shareholders on all legal matters related to the sale with the following team:
- Dr. Michael Inhester (partner, lead, M&A)
- Gerald Herrmann (counsel, tax)
- Adalbert Makos (senior associate, M&A, all Munich).
