Electric Highway
Our Approach
- We are experienced in managing competitive sell-side processes
- We bring extensive knowledge of emerging asset classes including the EV charging landscape
- Our broad network of international relationships allows us to offer global access to our clients
We employed these capabilities when we advised Ecotricity on the sale of the Electric Highway to GRIDSERVE. This is Opus’ second major transaction in the EV charging sector, having also advised ChargePoint Services on its sale to Engie.
Sector
Energy Transition & Climate Change
Ecotricity
GRIDSERVE
Public or Private: Private
Client Position: Seller
- Company Profile
- Transaction Background
- What We Did
- Outcome
Ecotricity is a green energy company that developed the Electric Highway, the UK’s first nationwide electric vehicle charging network. Established in 2011, the network covers motorways and other strategic roads and has played a key part in supporting early adopters of electric cars in the UK.
- The Electric Highway’s strategic footprint at all motorway service areas had resulted in approaches from a number of potential acquirers
- Ecotricity wanted an adviser to handle existing interest and reach new potential buyers, as part of managing a competitive sell-side process
- We introduced a broad range of additional buyers to the opportunity
- We ran a structured auction process which produced multiple bids at highly attractive valuations
- Successful sale to GRIDSERVE in partnership with Hitachi Capital. Going forward, GRIDSERVE will rapidly upgrade the network with state-of-the-art 350kW high power chargers
- The transaction will ensure the Electric Highway’s ongoing key position in enabling the UK to transition to electric vehicles, and continue the legacy that Ecotricity has built over the last decade
- The sale will allow Ecotricity to continue expanding its green energy business through re-investment into a host of innovative new projects