Osborne Clarke has advised the founders of the craftsman start-up Installion on the sale to the Hamburg-based green energy provider Lichtblick. According to information from the company, a mid-eight-figure sum was achieved.
A platform that connects energy companies with craftsmen to solve the shortage of skilled workers for the installation of solar systems and battery storage units: This is what the Cologne-based start-up Installion offers. Founded in 2019 by Florian Meyer-Delpho and Till Pirnay, the company has recently benefited from the boom in renewable energies and sustainable power and heating technologies.
Currently, around 800 B2B customers are registered on the platform. In addition, the start-up operates its own tradesman hubs at a total of twelve locations in Germany – including Hamburg, Leipzig and Nuremberg – where teams of fitters, roofers and electricians are equipped with storage space, offices, cars and tools, to handle orders for Installion.
In 2021, Installion raised EUR 3.2 million in its Series A funding round from existing investors and Dutch utility Eneco. Now the Series B round was imminent: However, Meyer-Delpho and Pirnay, together with the extended group of founders Daniel Kehler (COO) and Claus Wohlgemuth (CTO), decided to sell Installion.
The buyer is Lichtblick, a subsidiary of Eneco. The Installion brand is not to change much for the time being; the approximately 180 employees will be taken over. Managing director Meyer-Delpho wants to stay on board at Installion for the next three years. Co-founder Pirnay has already left the start-up operationally since January 2023 and is devoting himself to new projects.
The Osborne Clarke team that advised Meyer-Delpho and Pirnay consisted of Nicolas Gabrysch (lead) (Corporate/VC) and Dr Jens Wrede (Tax).
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