We are delighted to have advised EB Charging Limited on their sale to Blink Charging Co.
EB Charging was founded in Hertfordshire in 2015, and provides innovative electrical vehicle charging solutions across the UK – covering design, installation, ownership, and management of charging infrastructure. EB Charging’s solutions also include telematics and software services to boost efficiency and utilisation of charge points. At the time of completion, EB Charging had a network of c.1,200 individual in situ and orderbook electric vehicle chargers.
We were engaged to assist the shareholders in exploring funding options to allow EB Charging to capitalise on the exciting market opportunity.
Whilst we explored options to raise debt and private equity / venture capital funding, and received multiple offers, it was determined that to maximise the growth potential of the business, EB Charging would be best placed as part of a larger international group with in-house sector experience and deep capital resources.
Blink Charging was chosen as the preferred party since it had an existing international footprint, proprietary charging equipment and technology solutions, and over US$150 million of cash to fund electric vehicle charging infrastructure roll outs.
Following agreement of terms, we managed every aspect of the sale process to ensure smooth completion of due diligence, negotiation of legal documentation, management of approvals to complete the transaction and facilitation of appropriate incentive arrangements for management.
I was hugely impressed by the capability and dedication of the Grant Thornton team – they created and delivered significant value in every aspect of the transaction and were relentless in ensuring that the transaction was navigated safely through to completion.Alex Calnan Founder and CEO, EB Charging Limited