Wallbox, an NYSE-listed Spanish EV-charging infrastructure manufacturer, has acquired ABL, an EV-charging solutions provider in Germany, for ~EUR 15 million (USD 15.8 million). Combined, Wallbox and ABL have over one million EV chargers installed globally.

As part of the acquisition, Wallbox will be acquiring ABL’s manufacturing and assembly facility in Germany and its component manufacturing facility in Morocco.

The acquisition will accelerate Wallbox's commercial business plan, enhance its product portfolio and certification capabilities, reduce operational risk, and improve its financial performance. The transaction is expected to close in Q4 2023.

Analyst QuickTake: In addition to this acquisition, Wallbox has also established several partnerships over 2023 to expand its reach in the EV market. This includes its recent partnership with Free2move eSolutions in October 2023 to provide EV chargers in North America and its partnership with Kia America in August 2023 to provide bidirectional chargers to Kia’s EV9 customers. The company also established collaborations with Best Buy and Costco to provide its EV charger, Pulsar Plus, through the retailers’ sales channels.