ICG Infra’s investment electrifies Zeplug’s growth efforts

Zeplug has combined with Bornes Solutions, an ICG Infra portfolio company that installs charging stations in multi-occupancy residencies, as part of the deal.

  • Zeplug will use the capital to accelerate its growth in Europe and the US
  • Zeplug provides electric vehicle charging services in multi-occupant and office buildings
  • The firms will use the combination of Zeplug and Bornes Solutions to consolidate Zeplug’s position in the French market

ICG Infra announced on Wednesday the completion of a €240 million investment in Zeplug, a French provider of electric vehicle charging services in multi-occupant and office buildings.

The company, headquartered in Paris, will combine with ICG Infra portfolio company and fellow Parisian Bornes Solutions as part of the deal. Bornes Solutions installs charging stations in multi-occupancy residencies. The combination of the two companies is part of a move to consolidate Zeplug’s position in the French market.

Zeplug will use the capital raised from ICG Infra to accelerate its growth in Europe and the US.

“It will also enable us to grow our tech platform, with additional features for smart charging, energy optimisation and streamlining of the overall infrastructure cost at a global scale,” said Frederic Renaudeau, founder and president of Zeplug, Nicolas Banchet, CEO of Zeplug and Gilles Gomis, deputy-CEO of Zeplug, in a joint statement.

ICG is a London headquartered investment firm that has assets under management of €71.3 billion as of 30 June. It invests across private equity, credit and real assets with offices globally. ICG’s debut infrastructure fund reached total commitments of €1.5 billion in March 2022, surpassing its €1 billion target.