Just a few months ago, Qwello took over the company Park & Charge, which was founded in 2016. The acquisition by the Munich-based charging infrastructure provider will enable the Dutch company to operate independently on its home market and concentrate on growth in the public sector. The collaboration will enable both parties to expand more quickly and thus meet the growing demand for charging stations, it was said about the takeover.
A good four months later, Qwello announced the successful completion of a debt financing round with ABN AMRO and Investec. “The financing follows the recent acquisition of the leading Dutch charging point operator Park & Charge (‘PnC’), which was completed in May. The financing of up to 65 million euros includes the refinancing of a portion of the purchase price for PnC, which can be invested in Qwello’s European expansion, as well as the further growth financing of PnC through an investment framework and a revolving loan,” the charging infrastructure company said in an accompanying statement.
“The financing is a testament to the strength of the company and its business model against the backdrop of robust CP utilization within the Qwello portfolio and positive market growth related to the increasing adoption of electric vehicles and public CP demand. We look forward to expanding our presence as a reliable provider of critical infrastructure for municipalities across Europe. This new partnership with ABN AMRO and Investec creates a springboard for further growth,” says Qwello founder Henrik Thiele.
Qwello was advised by PwC Netherlands. Support came from the private equity firm Tiger Infrastructure, which specializes in providing transformative growth capital for medium-sized infrastructure companies. Tiger Infrastructure, for its part, invested 50 million euros in Qwello in 2021. With these funds, the Munich-based company was able to establish itself as an operator of charging stations in the Swedish metropolis of Stockholm.
However, Qwello started operating charging stations it developed itself in 2020. The launch took place in Munich, followed shortly thereafter by Hamburg. The company is now also represented in Berlin, Essen and Frankfurt.
According to its own statement, Qwello currently operates more than 10,000 charging points “through public concessions with local communities and investments from private capital.” In addition to Germany, the Netherlands and Sweden, the charging infrastructure company also operates in Great Britain, France, Spain and Poland.
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