Tado wants to go public via Spac

Sophie Deistler Sophie Deistler | 17.01.2022

The start-up relies on the Spac FJ ESG Acquisition of ex-Klöckner CEO Gisbert Rühl, investor Florian Fritsch and ex-Relayr CEO Josef Brunner.

Thermostat manufacturer Tado wants to go public in Frankfurt. To do so, the start-up wants to join forces with Spac GFJ ESG Acquisition, launched last October by ex-Klöckner CEO Gisbert Rühl, investor Florian Fritsch and ex-Relayr CEO Josef Brunner. A letter of intent has already been signed, and in about three months Tado could already be on the stock market.

When it goes public, the start-up is expected to be valued at around 450 million euros. In the future, Spac's founders want to participate in the operating business. According to the former Leica managing director Oliver Kaltner could be Gründerszene become the new CEO, while Tado founders Christian Deilmann and Johannes Schwarz are to remain on the thermostat manufacturer's board. Rühl and Brunner want to join the supervisory board.

"The entire tado team is very proud to be working with GFJ. We share the same beliefs and passion for environmental technologies. And we are determined to work together to help our customers save money and reduce their environmental footprint. Together we are able to create a more sustainable energy future," says Tado CEO Toon Bouten.

Tado was founded in Munich in 2011. The start-up produces smart thermostats that can be combined with heating and cooling systems regardless of manufacturer. Users can thus save energy because the thermostats detect, for example, whether windows are open. By its own account, Tado has already sold two million thermostats in more than 20 countries.


Like it? Please spread the word:

Newsletter

Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.

LinkedIn Connect

Take care, give care

Did this news inform or entertain you? Then we would be happy if you tell your network about it.

Share on Linkedin Share on Facebook Share on Xing

Related companies

Startup 2011 München Tado Smart-home device to control temperature in all rooms to save money and energy.

FYI: English edition available

Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?

Go to English edition

FYI: Deutsche Edition verfügbar

Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?

Deutsche Edition öffnen

Similar posts