Rapid electric vehicle charging operator InstaVolt acquired by EQT Infrastructure

The EQT Infrastructure V fund (“EQT Infrastructure”) has agreed to acquire InstaVolt Limited (“InstaVolt” or the “Company”) from Zouk Capital.

Headquartered in Basingstoke, InstaVolt is an operator and owner of electric vehicle (EV) charge points with a nationwide network across the UK. The Company was founded in 2016 and is built on a strong vision to enable the UK’s journey to net-zero through mass adoption of EVs. InstaVolt’s nationwide network of reliable charge points offers secure charging for EV owners.

InstaVolt’s charge points are most often situated at retail, food, beverage and forecourt sites, offering a convenient service for the end-user who can combine their charge with other day-to-day activities. Current partners include McDonald’s, Costa Coffee and Booths, among others.

EQT Infrastructure is committed to invest significantly to accelerate InstaVolt’s expansion of charge points across the UK and support the mission to roll out 10,000 rapid EV chargers by 2032.

Anna Sundell, Partner and Head of EQT Infrastructure’s UK Advisory Team, said: “The future is electric and InstaVolt is essential to the roll-out of EV charging infrastructure across the UK, a prerequisite for enabling mass adoption of EVs. We are excited about supporting InstaVolt in the next phase of growth and for EQT to play its part in decarbonizing the transportation sector and driving the transition towards net zero in the UK and beyond.”

Adrian Keen, InstaVolt’s Chief Executive Officer, added: “InstaVolt has set a standard in the UK for driver experience and infrastructure, and now with support from EQT, we are in a unique position to accelerate that target and replicate our model in other geographies, transitioning the business into the next phase of growth.

“We want to thank our partners and customers who have supported us on our journey so far and want our customers to be reassured that what has made InstaVolt so successful, including our focus on reliability and ease of use, remains unchanged.”

The investment sees founding investor Zouk Capital exit in full after establishing the company with the InstaVolt management team in 2016. Zouk is the manager of the £420m Charging Infrastructure Fund, sponsored by the UK Government and has a central objective of scaling open-access, public EV charging networks for the UK’s EV drivers.

RBC Capital Markets acted as exclusive financial advisor and Simpson Thacher & Bartlett acted as legal advisor to EQT Infrastructure.

UBS acted as exclusive financial advisor to Zouk and InstaVolt, with Travers Smith acting for the company and management on the sale and Fladgate acting for the institutional seller.

With this transaction, EQT Infrastructure V is expected to be 65-70 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) and subject to customary regulatory approvals.