EQT Infrastructure has agreed to acquire a controlling interest in EV charger operator InstaVolt, from its original investor Zouk Capital.
Founded in 2016, and headquartered in Basingstoke, InstaVolt has a network of charge points at retail, food, beverage and forecourt sites. Current partners include McDonald’s, Costa Coffee and Booths, among others.
EQT Infrastructure said it is committed to investing 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.
EQT Infrastructure is expected to be 65-70% invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) subject to customary regulatory approvals.
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 decarbonising the transportation sector and driving the transition towards net zero in the UK and beyond.”
The investment sees founding investor Zouk Capital exit after establishing the company with the InstaVolt management team. Zouk is the manager of the Charging Infrastructure Investment Fund and has a central objective of scaling open-access, public EV charging networks for the UK’s EV drivers.
Massimo Resta, partner at Zouk Capital, added: “The InstaVolt team and Zouk identified the opportunity in 2016 and built one of the leading rapid EV charging infrastructure companies in the UK. We believe the management team are in great hands with EQT and wish InstaVolt the very best for the next stage of their journey.”
