An international CMS team led by CMS partner Georg Gutfleisch (Corporate Transactions, Real Estate) provided comprehensive legal advice to the founders of TurboVolt GmbH, a Vienna-based EV charging infrastructure start-up focusing on the development and operation of fast charging networks in CEE and SEE, on its exit and the acquisition by Eleport, one of the leading EV charging providers in CEE based in Estonia.
Since its inception, TurboVolt's vision has been to expand access to sustainable charging solutions through state-of-the-art fast charging stations at key locations in Austria and CEE. The company has now been successfully acquired by Eleport, the largest operator of charging stations in the Baltic States. With the strategic acquisition of TurboVolt, Eleport accelerates its expansion in Croatia and Slovenia and takes a decisive step towards becoming the leading EV charging network in CEE. The aim is now to further expand the range of market-leading solutions for high-speed EV charging.
In addition to Georg Gutfleisch, other CMS experts who advised on the transaction were associates Alexandros Hantasch and Rebecca Herlitz (both Vienna), partner Marija Mušec, attorney-at-law Ana Slovenec (both Zagreb) and partner Saša Sodja (Ljubljana). The buyer was advised by Sven Papp (Ellex Raidla Tallinn), supported by Thomas Kulnigg and Dominik Tyrybon (Schönherr Vienna).
"We have counted TurboVolt among our clients for many years and have supported the company in building up its operations and expanding its business activities in the CEE region. We are all the more pleased to have been able to support TurboVolt in this strategically important step," said Georg Gutfleisch, partner at CMS and member of the Corporate Transactions/Real Estate team in Vienna.
"This transaction represents a significant achievement for TurboVolt and a key step in our journey toward expanding sustainable charging infrastructure," says Anita Tatalovic, Co-founder of TurboVolt. “Our collaboration with CMS has been instrumental in ensuring a successful outcome, and we are excited about the new opportunities this acquisition by Eleport will bring."
About TurboVolt
TurboVolt is an EV charging station operator focusing on the installation of high-capacity EV charging stations in Austria and CEE at prime retail locations. The company specialises in maintaining and operating EV charging stations to the highest technical and safety standards, as well as providing access to a user-friendly app that enables interoperability and roaming, live charging station availability, pricing and speed, and customer service support.
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