Drake Star Partners acts as exclusive advisor to ubitricity on its sale to Shell
Electric Vehicle Charging Solutions
Amsterdam, Berlin, The Hague (January 25, 2021) – Drake Star Partners 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 Drake Star Mobility and Energy Transition team based in Amsterdam. Drake Star Partners 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 & 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, Drake Star Partners Amsterdam’s Mobility and Energy Transition team has successfully managed to find the perfect strategic partner for ubitricity in a highly competitive, global, and entirely virtual M&A process. Understanding the continuously increasing complexity of sustainable transportation is one of Drake Star Partners’ 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.
Explaining the uniqueness and relevance of ubitricity’s value proposition, Lex Hartman, ubitricity’s CEO said: “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.”
Sherief Rahim, Principal at Drake Star Partners Amsterdam and Global Mobility and Energy Transition sector team, commented: “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.”
Frank Verbeek, Managing Partner and Head of the Global Mobility and Energy Transition team at Drake Star Partners Amsterdam, added: “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.”
Drake Star Partners deal team: Sherief Rahim and Thomas Smal
Legal Counsel: Dr. Martin W. Viciano Gofferje and Johannes Schrägle (Gleiss Lutz)
For further enquiries, please contact Sherief Rahim or Thomas Smal:
About ubitricity Gesellschaft für verteilte Energiesysteme mbH
ubitricity stems from “ubiquitous electricity” and it’s the company’s mission to provide “Electricity, for Everyone, Everywhere” through its range of intelligent solutions for charging and billing electric cars. ubitricity identified that low carbon energy systems would require a new approach to data capture and systems control. Besides the open standard charging infrastructure, directly accessible by everyone, ubitricity also brings the EV into the centre of the value creation of charging with the flexibility potential of the battery. ubitricity is well-known for the compact and robust retrofitted lamp post EV charge points. The in-column outlets make a fast-roll out of a dense EV charging infrastructure possible without extensive civil works.
About Drake Star Partners
Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Amsterdam, and Geneva. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 360 transactions since 2004, 70% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited is an appointed representative of Kession Capital Ltd which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.