Lennertz & Co. new lead investor in pepper motion
- World’s first digital OEM for truck and bus electrification
- Lennertz & Co. is the lead investor in a Series A financing round worth almost 30 million euros
- Retrofitting is the most sustainable form of mobility, both economically and ecologically
Hamburg, April 26, 2022 A private equity fund initiated by Hamburg family office Lennertz & Co. has acquired a minority stake in the innovator of electrification technology in the commercial vehicle sector. pepper motion GmbH is the world’s first digital OEM in the automotive industry for the conversion and modernization of production-ready trucks and buses.
At the end of March 2022, the Denkendorf-based engineering company successfully completed a Series A financing round worth almost 30 million euros. Lennertz & Co. was the main investor here with a capital injection of approx. 40%. Other investors include the Würth Group, among others.
“As an entrepreneurial and owner-managed family office, pepper appealed to us with its unique technology in upgrading production-ready trucks and buses, but also with the engineering expertise that its partners have accumulated. in the automotive industry for over 20 years.” says Philipp Lennertz, Managing Partner at Lennertz & Co. “Technology and service here play a huge role in achieving global climate goals. We therefore see great growth potential for pepper, not only in the national and European markets, but also internationally in a market that will quickly become more and more important in a very short time.
Capital for mass production and other markets
In addition to the development of the company’s own technologies, the capital increase is specifically intended to promote the ramp-up of series production with strategic partners as well as to support the market entry phase in other European countries which has already started. Germany, France, Italy, Austria and Poland are among the most important European markets for pepper motion.
Potential customers include large owners of existing fleets, such as transportation or trucking companies, who find it difficult to meet 2030 emissions targets for their fleets. One of the main advantages of pepper motion is that the company’s multi-award-winning renovation concept is currently considered unmatched in the market for durability and total cost of ownership.
“The proof of concept has been in place for a long time thanks to our vehicles and our etrofit electrification kits. As a pioneer, we are at the forefront of the international modernization industry and set German engineering, innovation and quality standards, on which fleet operators active in the public transport sectors and transport/logistics can count,” says Andreas Hager, CEO at Pepper Movement.
About Lennertz & Co.
As an entrepreneurial, owner-managed family office, Lennertz & Co. focuses entirely on the success of its clients’ investments. Our investment recommendations are in line with the personal preferences of clients, who benefit from Lennertz & Co.’s independence and proprietary nature of its investment opportunities.
Lennertz & Co. also has a large number of authorizations from the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and thus fulfills the numerous qualitative and quantitative requirements of BaFin and the German Federal Bank (Bundesbank) .
Lennertz & Co. shares its clients’ demand for fast, informed and confident decision-making. On behalf of clients, Lennertz & Co.’s team of experts – who can draw on decades of experience – carefully examine opportunities as they arise in the venture and growth capital segments, capital -investment and blockchain. In addition, the company’s advisory board consists of renowned specialists in the fields of industry, venture capital and private equity, including Prof. Dr. Heinrich von Pierer, Prof. Dr. Klaus Wucherer, Stefan Theis , Daniel Thung, Daniel Milleg and Florian Heinemann.
About the movement of pepper
The privately financed German company with headquarters in Denkendorf and offices in Garching near Munich, Paderborn and Vienna (Austria) employs more than 100 people. As the world’s first digital OEM (without its own warehouses and manufacturing), pepper offers innovative solutions for the electrification (retrofitting) of used and new commercial vehicles such as trucks in distribution transport, buses in local public transport (LPT) and municipal vehicles. .
Through its holistic approach to telematics, charging infrastructure, fleet management and autonomous driving, the company designs rapidly implementable and cost-effective solution packages for sustainable mobility transformation and a “second life” for existing utility vehicles.
Lennertz & Co. GmbH
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