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New Deal


Announced

Completed

EVgo Services went public via a SPAC merger with Climate Change Crisis Real Impact I Acquisition, in a $2.6bn deal.

Financials

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Transaction Value£1,899m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

EV charging station

Majority

Private

Merger

United States

electric vehicle charging

Auto Services

Domestic

Single Bidder

Friendly

Private Equity

De-SPAC

Reverse Takeover

Completed

Synopsis

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EVgo Services, an electric vehicle fast-charging network, went public via a SPAC merger with Climate Change Crisis Real Impact I Acquisition, a special purposes acquisition company, in a $2.6bn deal. The transaction will further elevate EVgo’s position as an industry-leading builder, owner and operator of public EV fast charging in the US by funding and accelerating the company’s growth strategy. “The completion of our business combination represents a critical milepost in EVgo’s ongoing evolution. I appreciate every employee, partner and driver that has positioned us to achieve this important step in our company’s history. With our new public platform, we are armed with greater resources and are more motivated than ever to make it easier for drivers to go electric through the continued expansion of what is already the largest public fast charging network in the country," Cathy Zoi, EVgo CEO.

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