IMPROVED advises ubitricity on its sale to Shell
- Date January 25th, 2021
- Transaction type M&A
- Sector Energy
- Sub Sector Electric Vehicle Charging Infrastructure
IMPROVED is pleased to announce that it acted as the exclusive financial advisor to the shareholders of ubitricity on its sale to Shell. Completion is subject to regulatory clearance and this transaction is the 7th consecutive deal within the rapidly growing EV charging ecosystem led by the IMPROVED team.
IMPROVED adds another landmark deal to its proven and leading track record in the space, following amongst others the sale of NewMotion to Shell, the majority sale of Fortum’s CPO activities to and primary capital raise from Infracapital, the sale of Pod Point to EDF and Legal and General, and the carve-out of Allego by Meridiam from Alliander.
E-mobility has reached its tipping point and there is only one way the future of transportation is heading towards. By leveraging its deep sector expertise and relationships in the rapidly developing mobility and new energies sector, the IMPROVED team has successfully managed to find the perfect strategic partner for ubitricity in a highly competitive, global, and entirely virtual process.
Understanding the continuously increasing complexity of sustainable transportation is one of IMPROVED’s core focus areas and thereby remains the leading advisor of choice in the field. ubitricity is a leading EV charging powerhouse, well-known for its vision for ubiquitous on-street lamp post charging solutions. This acquisition will enable Shell, the number one mobility retailer in the world, to expand into the on-street EV charging market. For ubitricity, this transaction secures a strong strategic partnership, making ubitricity best-positioned to accelerate the next phase of its growth strategy.
“With every new EV on the street, the need for EV charging infrastructure increases rapidly. ubitricity’s lamp post charger is fast to install and nearly invisible because it fits completely inside the lamp post column. For 40-60% of city residents without a private parking spot, on-street parking is the norm, and charging the car while it’s parked on the street next to a lamp post anyway will be the go-to-solution. Only a connected car will be helpful for the energy grid in the future, and that’s why we need at least as many charge points as EVs. We see the interest in our company and our EV charging solution from Shell as a compliment to our work and it emphasizes the increased demand for a diverse variety of charging options for different use cases.”
“We are thrilled to have advised ubitricity and its shareholders in this highly strategic transaction. E-mobility has clearly reached a tipping point and through this synergetic transaction, ubitricity is geared to lead its next growth phase in a sector that is bound for hyper growth. Becoming part of the Shell Group will allow ubitricity to strengthen its leadership position and capture the enormous market opportunity of EV charging.”
“We once more see the proof that bold entrepreneurship will be rewarded with additional value for all stakeholders. With Shell, ubitricity will reach next levels, and proven innovation will show its benefits on an even larger scale; that’s why we believe in doing the deals with winners only.”
Managing Director, IMPROVED