Acquisition plugs electric vehicle charging firm into wider network

Wetherby-based RAW Charging, which provides electric vehicle charging technology, has acquired the business and assets of Franklin EV Limited for an undisclosed sum.

This is ahead of the parent company – Franklin Energy – being put into administration.

RAW will acquire 128 EV charging ports that are currently owned and managed by Franklin. The acquisition will include a further 370 managed EV chargers, which will provide recurring revenues for RAW.

It has also acquired the LiFe Network that controls the EV Chargers and will continue to provide access to the 10,000 plus registered drivers.

Franklin has a significant sales pipeline and in-principle agreements that RAW will take forward as part of its once in a generation EV roll out strategy

The deal allows RAW to continue to grow its significant portfolio of AC and DC charging assets across the UK and Europe.

It will take over the operation of Franklin’s EV chargers and integrate them onto its platform.

RAW says it is paving the way in EV destination charging, providing a variety of charging solutions to EV owners across the UK and supporting the UK Government’s transition away from diesel and petrol cars ahead of the ban in 2030.

The acquisition builds on the company’s previously announced partnerships with Greene King, in which RAW is installing chargers across 800 managed pubs and hotels; and McArthurGlen, where it is installing EV chargers at designer outlets across the UK and Europe.

Bruce Galliford, CEO, RAW Charging, said: “This opportunistic acquisition forms part of our growth strategy to rapidly build a portfolio of EV charging assets and take advantage of the transition to electric vehicles.

“RAW has a significant pipeline across the UK and Europe and with the addition of the Franklin assets and sales pipeline we are confident in rapidly scaling up to generate consistent returns from our chargers to fund future growth.”