Berlin/Munich-Global law firm Dentons has advised the founders of Hamburg-based power trading firm FlexPower on the acquisition of all shares in the company by global investment management firm Citadel. The transaction was signed on October 10, 2025, and is expected to close in the fourth quarter of this year, subject to customary closing conditions. FlexPower will retain its brand and do business as "FlexPower (a Citadel company)."

The proposed acquisition is a strategic investment by Citadel and will enable further future growth for FlexPower. The combination of Citadel's risk management, technological and analytical capabilities with FlexPower's renewable market expertise will enable the company to deliver reliable power risk management solutions to a broader range of producers and consumers across Germany and Europe.
FlexPower was founded in 2022 and specializes in trading and risk management solutions for renewable generators ("Upgrid"), flexibility providers such as battery operators ("Flexgrid"), and commercial and industrial offtakers ("Downgrid"). The company trades a portfolio of more than 1,700 MW across six European countries, amounting to over 11 TWh placed annually on short-term power markets.

A cross-border Dentons team advised FlexPower, a long-standing client, on the transaction. Dentons previously advised the company in connection with the initial investment by CFP Energy at start of its operations and most recently on the formation of a joint venture for battery energy storage (BESS) projects.

Dentons advisors to FlexPower

Germany, USA, New Zealand:

Corporate/M&A, Venture Technology: Thomas Schubert (Lead Partner), Philipp Becker (Partner, both Berlin), Ilan Katz (Partner, New York), Nick Scott (Partner, Auckland), Alexander Reiner (Counsel), Stefan Wintershoff (Senior Associate, both Munich), Laura Döring (Associate, Berlin)

IP and Technology: Dr. Stefan Dittmer (Partner), Benjamin Lotz (Counsel, both Berlin)

Employment: Isabelle Puhl (Partner, Berlin), Georgina McAdam (Senior Associate, Auckland)

Competition and Antitrust: Dr. Maria Brakalova, Dr. Josef Hainz (both Partner), Moritz Hellmann (Senior Associate, all Berlin)

Tax: Dr. Andreas Berberich (Partner, Munich)

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