InstaVolt Acquisition: Key Details, Impact, and What Comes Next

EQT Infrastructure's acquisition of InstaVolt marks a significant move in the electric vehicle (EV) charging industry. InstaVolt, known for its rapid EV charging network in the UK, will benefit from substantial investments aimed at expanding its infrastructure. This acquisition underscores the growing importance of robust EV charging networks in supporting the transition to electric mobility.

What Is InstaVolt?

Founded in 2016, InstaVolt provides public electric vehicle rapid charging services across the UK. Its core offerings include high-power DC rapid charging stations ranging from 50kW to 160kW, fleet charging solutions, and a mobile app for locating chargers and managing payments. InstaVolt differentiates itself with easy payment options, no subscription fees, and convenient locations at popular retail and hospitality venues. The company also emphasizes reliability and offers 24/7 customer support.

Who Acquired InstaVolt?

EQT Group is a global investment organization known for its thematic investment approach and active ownership. The company focuses on private capital, infrastructure, real estate, and private wealth, investing in sectors like healthcare, technology, and industrial technology. With over 300 portfolio companies worldwide, EQT has a significant market presence and is recognized for creating lasting value and sustainable growth. Its influence is evident in its ability to drive innovation and shape industries through strategic investments.

When Was InstaVolt Acquired?

EQT Infrastructure acquired InstaVolt in February 2022. This acquisition occurred during a pivotal moment in the electric vehicle (EV) industry, marked by a significant increase in EV sales and the UK's impending ban on petrol and diesel cars by 2030. The timing aligns with the growing demand for robust EV charging infrastructure, positioning InstaVolt to expand its network and support the transition to electric mobility.

Why Was InstaVolt Acquired?

• Market Expansion: EQT Infrastructure's acquisition of InstaVolt is a strategic move to significantly expand its presence in the electric vehicle (EV) charging market. With plans to install 11,000 chargers in the UK and Ireland, 5,000 across Spain and Portugal, and over 300 in Iceland, EQT aims to make InstaVolt the largest charge point operator (CPO) in every country it operates in. This expansion supports the broader goal of promoting the mass adoption of EVs and transitioning to net zero emissions.
• Technology Integration: InstaVolt's advanced rapid charging technology is a key asset for EQT. The company focuses on installing ultra-rapid chargers over 100kW+ to meet the growing demand for faster charging solutions. InstaVolt's partnerships with major brands like McDonald's, Costa Coffee, and KFC ensure that these chargers are conveniently located, enhancing the overall user experience. This integration of cutting-edge technology and strategic locations strengthens EQT's technological capabilities in the EV sector.
• Competitive Advantage: The acquisition of InstaVolt bolsters EQT's competitive position in the EV charging market. InstaVolt is recognized as the UK's fastest-growing independent rapid EV charging operator and has been ranked as the most popular public EV charging network. Its established network, strategic partnerships, and focus on reliability and accessibility provide a significant edge over competitors. With EQT's support, InstaVolt is poised to further enhance its market position and expand into new geographies.

Acquisition Terms

• Acquisition Price: The acquisition price was not publicly disclosed.
• Payment Method: The payment method was not specified in the available information.
• Key Conditions or Agreements:
  • Investment Commitment: EQT Infrastructure is committed to significantly investing in InstaVolt to expand its network to 10,000 rapid EV chargers by 2032.
  • Regulatory Approvals: The transaction is subject to customary regulatory approvals.
  • Exit of Zouk Capital: Zouk Capital, the founding investor, is exiting the company.
  • Advisors: RBC Capital Markets acted as the exclusive financial advisor, and Simpson Thacher & Bartlett acted as the legal advisor to EQT Infrastructure.

Impact on InstaVolt

The acquisition of InstaVolt by EQT Infrastructure has led to significant operational changes and management shifts. With Zouk Capital exiting, EQT has committed to substantial investments aimed at expanding InstaVolt's network to 10,000 rapid EV chargers by 2032. This expansion includes hiring staff across various regions to support the company's ambitious growth plans. The management team, led by CEO Adrian Keen, remains optimistic, viewing the acquisition as a catalyst for accelerated growth and geographic expansion.

In terms of product offerings, InstaVolt continues to focus on ultra-rapid chargers over 100kW+, with plans to introduce new services like Octopus and AllStar cards to facilitate the transition to electric vehicles for customers and fleets. Employee reactions have been generally positive, with the team motivated by the growth prospects. Customers, reassured by the continuity of reliable and accessible services, have maintained their high satisfaction levels, as evidenced by InstaVolt's consistent ranking as the most popular public EV charging network.

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