Eurazeo to increase investment in Electra to boost growth

Electra is an EV fast charging service provider.

  • Eurazeo will invest via Eurazeo Transition Infrastructure Fund
  • The fundraising round will see participation from new investors like PGGM and Bpifrance
  • Eurazeo first acquired a stake in Electra in June 2022

Eurazeo will make an additional investment in Electra, an EV fast charging service provider.

This investment is a part of a €304 million funding round, thereby providing the resources to develop the company’s European business, according to a release.

Electra operates in France, Belgium, Luxembourg, Italy, Switzerland, Austria and Spain.

Eurazeo will make the investment via Eurazeo Transition Infrastructure Fund.

“This injection of capital will enable the company to finance its expansion in Europe while continuing to provide the best user experience possible,” said Melissa Cohen, MD infrastructure at Eurazeo.

The new round of fundraising will see participation from investors like PGGM and Bpifrance and the existing investors like Eurazeo as well as RIVE Private Investment, Serena and the SNCF Group via 574 Invest.

“The company has a first-rate management team and occupies a solid position in strategic locations within a highly buoyant market that is set to enjoy rapid expansion in Europe over the coming years,” said Dennis van Alphen, director of investment in infrastructure at PGGM. “The investment in Electra offers our clients, including the Pensioenfonds Zorg en Welzijn (PFZW), a strong, predictable yield over the long term.”

Eurazeo first acquired a stake in Electra in June 2022.

Electra, under Eurazeo, has expanded its operations in eight European countries –France, Germany, Belgium, Luxembourg, Italy, Switzerland, Austria and Spain, deploying nearly 1,000 charging hubs, and establishing several strategic partnerships, including VINCI Autoroutes, Altarea, AccorInvest, G7, Stellantis, MG, Honda, and Europcar, according to a release.

Eurazeo is a European investment group with €33.5bn in diversified assets under management. It has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo.

PGGM is a Dutch pension fund and Bpifrance is the French government’s investment arm.