Europe's largest charging network was acquired by leading Finnish clean-energy company
The Background E-mobility is one of the hottest topics in the recent years. A big challenge to the industry is the large number of various Charging Point Operators across Europe. As a consequence, EV drivers need separate contracts with each of them to charge and pay for electricity. Plugsurfing offers a seamless e-mobility solution to cover the entire market for a great user experience.
The Deal Fortum Charge & Drive has successfully acquired Plugsurfing in March 2018. Both companies join forces to optimize services for electric vehicle drivers. IEG – Investment Banking Group under the leadership of Managing Director Lars Härle has acted as exclusive financial advisor to Plugsurfing.
The Partners Plugsurfing is Europe’s largest charging network, covering 53.000+ charging points in 24 countries. As a strong partner of car manufactures, fleet operators and leasing companies, Plugsurfing ensures access to charging points and easy payment for any electric car driver. Fortum is a leading clean-energy company developing and offering solutions for their customers on electricity, heating, cooling as well as solutions to improve resource efficiency. They provide services for the power generation industry and solutions for consumers in order to be smarter in their energy choices.
The Perspective The big picture is to move towards a cleaner world with high customer satisfaction. As first step to achieve this, the Nordic charging network of Charge & Drive will be available on the Plugsurfing application for access and payment. Rami Syväri, VP of Fortum Charge & Drive, states: “[The] aim is to improve EV drivers’ accessibility to charging networks when travelling between countries.” IEG – Managing Director, Lars Härle, underlines this by explaining: “Fortum has a sophisticated e-mobility strategy and Plugsurfing with the deepest integration into networks is the perfect fit to bring them to the forefront on a European level.”
IEG led the sale of Plugsurfing. We selected IEG because we were impressed with their ability to look beyond the bottom-line and enthusiastically buy-in to the vision we had for what was still a developing and challenging market. Lars and his team brought with them a clear understanding of how digital businesses work, and mixed it with the old-fashioned traits of a network and true diligence,…