Infracapital, the infrastructure equity investment arm of M&G Plc, has agreed to buy the remaining 30-percent stake in Recharge, from Fortum. Infracapital acquired its original majority stake in May 2020, and this transaction will result in 100 percent ownership of the company.
Recharge is a public charging point operator (CPO) for electric vehicles (EV) in the Nordics with more than 4,600 connectors at 800 locations. The company has experienced strong growth through the partnership between Infracapital and Fortum, and Fortum is now divesting in its anticipated timeframe to enable growth investments in alternative areas. Recharge was one of the first companies in Fortum’s Valkea Growth Club, which supports startups in the energy and sustainability sectors.
Recharge was the fifth standalone investment made by Infracapital Partners III and is well positioned in supporting the transition to a lower-carbon economy. Fund III’s strategy is to invest sustainably in es