RAW Charging has acquired the ongoing operations of Franklin ahead of the parent company, Franklin Energy, being put into administration, for an undisclosed amount.
RAW will acquire 128 EV charging ports that are currently owned and managed by Franklin; the acquisition will also include a further 370 managed EV chargers, which will provide recurring revenues for RAW.
RAW has also acquired the LiFe Network that controls the EV Chargers and will continue to provide access to the 10,000+ registered drivers.
The acquisition allows RAW to continue to grow its significant portfolio of AC and DC charging assets across the UK and Europe. RAW will take over the operation of Franklin’s EV chargers and integrate them onto its platform.
This opportunity allows RAW to provide a seamless continuation of the management and rollout of EV chargers for Q Park and Aberdeen Standard, as well as the Merseyside and Sheffield Councils.
Paving the way in EV destination charging, RAW provides a variety of charging solutions to EV owners across the UK in supporting the UK Government’s transition away from diesel and petrol cars ahead of the ban in 2030. Once installed, RAW will benefit from the anticipated growth in charger utilisation as EV penetration increases and will ultimately deliver a long-term revenue stream from owning and operating the EV chargers.
The acquisition builds on RAW’s previously announced partnerships with Greene King, in which RAW is installing chargers across 800 managed pubs and hotels; and McArthurGlen, where RAW is installing EV chargers at Designer Outlets across the UK and Europe.
Bruce Galliford, CEO, RAW Charging, said: “This opportunistic acquisition forms part of our growth strategy to rapidly build a portfolio of EV charging assets and take advantage of the transition to electric vehicles. RAW has a significant pipeline across the UK and Europe and with the addition of the Franklin assets and sales pipeline we are confident in rapidly scaling up to generate consistent returns from our chargers to fund future growth.”