A world leading energy provider, Shell signs agreement to buy leading electric vehicle charging provider NewMotion
AMSTERDAM–(BUSINESS WIRE)– Shell, one of the world’s largest energy providers, has signed an agreement to buy NewMotion in a deal that will enable both companies to accelerate the transition to low-carbon transport. Drake Star Partners acted as the exclusive financial advisor to NewMotion’s shareholders in this transaction.
Under the terms of the deal, NewMotion will remain focused on accelerating its mission in Europe by delivering more innovative smart-charging solutions to homes, businesses and public parking spaces. The acquisition will help NewMotion enhance its electric vehicle (EV) charging services turning more parking spaces into charging stations as well as improving users’ charging experience across Europe.
Based in Amsterdam, NewMotion was launched in 2009 by a group of entrepreneurs on a mission to contribute to a cleaner world. Today, NewMotion operates more than 30,000 electric charge posts in the Netherlands, Germany, France and the UK. It also provides access to a network of more than 50,000 public charge points across 25 European countries, serving more than 100,000 registered charge cards.
“We are very pleased to have such a strong investor that fully supports our mission, enabling us to further expand across Europe at a time when the transition to electric vehicles is gathering pace,” said Sytse Zuidema, CEO of NewMotion. He continued: “We are excited that our ongoing mission and belief in a transition towards less-polluting transport source has been endorsed so strongly by Shell, one of the world’s leading energy companies.”
“Today’s announcement is an early step towards ensuring customers can access a range of refuelling choices over the coming decades, as new technologies evolve to co-exist with traditional transport fuels.” Shell’s Vice President for New Fuels, Matthew Tipper, said. “This move provides customers the flexibility to charge their electric vehicles at home, work and on the go. When you add this customer offer to our current roll out of fast charging points on Shell forecourts, we believe we are developing the full raft of charge solutions required to support the future of EVs.”
Commenting on the acquisition, Frank Verbeek, Managing Partner of Drake Star Partners Netherlands, said: “As part of the Shell New Energies portfolio, NewMotion has a unique opportunity to expand its services to the level of ambition the founders, shareholders, management and staff worked so hard for. We are proud to have played our role in ensuring Dutch company NewMotion can execute their international strategy.” Mr. Verbeek continued: “We believe that within the mobility segment, EVs will prove to be an extremely dynamic sector with many more companies looking for opportunities. As such, Drake Star Partners is well-positioned to support companies operating in the ever-dynamic EV space along with their growth ambitions.”
Drake Star Partners team: Frank Verbeek, Sherief Rahim and Bas Hendriks
Legal/Fiscal advisors: Vriman M&A Lawyers (target’s legal advisor), Amstone Tax Lawyers (target’s fiscal advisor)
NewMotion is the market leader in offering charging solutions for electric vehicles in Europe. The company currently has more than 30,000 private charge points across the Netherlands, Germany, France and the UK. The company also provides access to a network of more than 50,000 public charge points across 25 countries in Europe for more than 100,000 registered drivers charge cards. NewMotion and Shell will utilise the synergies and opportunities that this deal provides to further develop and enhance the leading-edge services and products NewMotion offers existing and future EV drivers. NewMotion has been active in the market since 2009, fulfilling a pioneering role in the industry.
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, Geneva and Tokyo. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 300 transactions since 2004, 70% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Holdings 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. © 2016 Drake Star Partners.