Landis+Gyr (LAND.S), the Swiss energy management firm, has reached an agreement to sell its EV Solutions business to Slovenian investment firm KD Group, ensuring the division’s operations, employees, and customer commitments remain intact.
The move follows Landis+Gyr’s announcement last month that it would withdraw from the electric vehicle charging infrastructure market in Europe, the Middle East, and Africa (EMEA). At the time, the company did not disclose any plans to seek a buyer, raising uncertainty over the future of the unit.
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“As part of the ongoing exit from the EV charging business in EMEA, Landis+Gyr has been actively working to identify the best possible outcome for the EV Solutions business,” the company said in a statement. The decision to divest follows lower-than-expected growth in the sector, shifting regulatory conditions, and increasing competitive pressure, which made long-term profitability unlikely.
The KD Group, which specializes in financial and strategic investments, will now take over the EV Solutions unit, which was previously operated under the Etrel brand before Landis+Gyr fully acquired it in June 2024. The deal secures the continued operation of the business and its workforce.
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“This agreement reflects Landis+Gyr’s commitment to securing the best possible outcome for our employees, customers, and partners,” said Robert Evans, Executive Vice President for the EMEA region at Landis+Gyr. “By ensuring a path forward for the EV Solutions business under new ownership, we are prioritizing business continuity while remaining focused on our core strengths in integrated energy management solutions.”
Gregor Sluga, CEO of KD Group, emphasized the strategic value of the acquisition. “We are proud to join Etrel, building on the remarkable 15-year legacy in the e-mobility space. This investment reflects our confidence in the company’s role in shaping a smarter, more sustainable future,” he said.