Growth capital raised to accelerate £250m EV charger installation plan
Electric vehicle charge point operator, RAW Charging, has revealed a growth capital fundraise to support its £250m EV charger installation plan.
The raise was funded by Antin Infrastructure Partners, a private equity firm focused on infrastructure investments.
Antin has invested to help RAW accelerate delivery of its pipeline, targeting installation of 10,000 charging points in the next three years.
RAW, based near Wetherby, is expecting to have over 1,000 charging points operating by December 2022.
The investment forms part of Antin’s wider deployment of capital in EV charging across Europe. Rodolphe Brumm and Leonardo Adami, Antin infrastructure partners, will join the Board of RAW Charging.
RAW has established a network of EV charging infrastructure assets to enable EV drivers to charge their vehicles at their destinations, typically at workplace, leisure facility or transport hub carparks. The Group now has a pipeline of 4,000 sites.
It has recently won some major contracts with blue chip customers such as Greene King, for whom RAW is installing chargers across 800 pubs and hotels; McArthurGlen, where RAW is installing EV chargers at designer outlets; and Aviva Investors, for whom RAW is providing EV charging at 60 commercial property sites.
RAW has also recently acquired Franklin EV Limited, adding 128 EV charging points and a further 370 managed chargers to its asset base.
Bruce Galliford, CEO at RAW Charging, said: “With the fantastic growth over the last four years, thanks to the hard work of our brilliant team, it is perfect timing to move on to the next stage with Antin joining us on the journey.
“The market for destination charging is growing and supported by policy in both the UK and Europe.”
Rodolphe Brumm, NextGen Partner at Antin, said: “This new investment signals Antin’s strong commitment to advancing the use of electric vehicles, thus contributing to reducing carbon emissions.
“We firmly believe the private sector, alongside Government, will play a key role in realising the UK’s ambitious electric vehicle infrastructure strategy, which includes the aim to reach 300,000 public EV charge points by 2030.”
Jonathan Turner, CEO at Bayford Group, said: “We are pleased to have Antin join Bayford as an investor for the next stage of RAW’s growth.
“Bayford, alongside Antin and the Board of Directors, are excited for the opportunities ahead as RAW delivers on this once-in-a-generation electric vehicle charging opportunity.”
Bryan Cave Leighton Paisner acted as legal advisor to RAW and its current shareholders, with Longspur Capital acting as their financial advisor.
