SMP
December 14, 2020 Press

SMP advises Baloise on the establishment of a mobility joint venture and on its investment in Ben Fleet Services

Berlin - SMP advised Swiss insurance group Baloise on the structuring of two projects as part of the expansion of its mobility ecosystem. Under the title "Simply Safe", the group is pursuing, among other things, a strategy of opening up new business areas beyond its core product. Together with the company builder Bridgemaker, Baloise established the joint venture "aboDeinauto", the first car subscription provider that focuses on used vehicles. aboDeinauto enables customers to temporarily subscribe to a used car and thus simultaneously shortens the downtime of vehicles at used car dealerships.

Baloise also invested in the Berlin-based fleet service provider Ben Fleet Services together with the energy company EnBW. A team led by SMP partners Tim Schlösser and Stephan Bank provided comprehensive legal advice to Baloise on the establishment of the joint venture aboDeinauto with the company builder Bridgemaker and on its investment in the mobility infrastructure provider Ben Fleet Services.

"With Ben Fleet Services and aboDeinauto, Baloise is investing in an interesting market, opening up new business areas that go beyond its core product," says partner Tim Schlösser. "We are pleased that we were able to provide advice on these exciting cross-border projects and are observing further developments in the market with a lot of interest" partner Stephan Bank adds.

Baloise
The Baloise Group is more than a traditional insurance company. Its business activities focus on the changing security and service needs of society in the digital age. The approximately 7600 Baloise employees therefore focus on the wishes of their customers. Optimum customer service and innovative products and services make Baloise the first choice for anyone who simply wants to feel safe. Located in the heart of Europe and headquartered in Basel, the Baloise Group operates as a provider of prevention, provision, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, it also operates as a focused financial services provider with Baloise Bank SoBa, a combination of insurance and bank. Baloise operates its business with innovative pension products for private customers throughout Europe from its competence center in Luxembourg. The Baloise Holding AG share is listed in the main segment on the SIX Swiss Exchange.

EnBW Innovation
EnBW Innovation has been an integral part of EnBW's corporate strategy since mid-2014 and has positioned itself at the top of the German corporate innovation landscape. With employees, entrepreneurs, external partners and founders, EnBW Innovation develops new business models in the strategic areas of Connected Home, Digital Utility, Urban Infrastructure and Networked Mobility. As a group-wide innovation lab, EnBW Innovation creates the starting conditions for business ideas and also supports external founders via the company builder and EnBW New Ventures.

Bridgemaker
Bridgemaker is Europe's leading independent corporate company builder. With a team of experienced entrepreneurs and innovators, Bridgemaker enables companies and hidden champions to discover their competitive advantages by creating innovative start-ups outside the narrow confines of their operational business. At the heart of its success is the partnership between the team and the experts in the corporate sector. Bridgemaker was founded in 2016 by Henrike Luszick and since then has built up more than ten successful ventures.

aboDeinauto
aboDeinAuto is a provider of subscriptions for used cars based in Berlin. aboDeinauto enables its customers to use their dream car on a monthly subscription basis without long-term commitment. aboDeinauto works closely with the trade, can draw on a large pool of used vehicles and thus offers particularly favorable deals. aboDeinauto 2020 was founded by the insurance company Baloise together with the company builder Bridgemaker.

Ben Fleet Services
Ben Fleet Services was founded in 2019 by EnBW Innovation and the company builder Bridgemaker and has since revolutionized the market for fleet-based services with a digital service platform. The Berlin-based start-up now employs around 100 employees throughout Germany. In addition to traditional company fleets, its customers also include leading providers of new mobility services such as MILES, SIXT share and stadtmobil. The range of services includes on-site cleaning, refuelling and charging, maintenance, repair and relocation of vehicles - whether for individual vehicles or entire vehicle groups, whether for (e-)cars, vans, bus and train, bicycles and e-scooters.

About SMP
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.

Advisors Baloise: SMP
Dr. Tim Schlösser (Co-Lead, Corporate), Partner
Dr. Stephan Bank (Co-Lead, Corporate), Partner
Dr. Leonie Hartz (Corporate), Senior Associate

Advisor EnBW (BEN Fleet): EnBW Inhouse
Valerie Bolai

Advisors BridgeMaker (aboDeinAuto): Crowe Kleeberg
Dr. Michael Thil
Dr. Katharina-Julia Ollech