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Latham & Watkins Advises Siemens Financial Services in Minority Investment in Electrify America

July 7, 2022
Cross-border deal team represents the US subsidiary of German technology company in acquisition of an interest in electric vehicle charging station company. 

Electrify America LLC, the largest open ultra-fast electric vehicle charging network in North America, has announced that it has raised US$450 million of equity investments into the company at a post-money valuation of US$2.45 billion. Siemens, through its financing arm Siemens Financial Services (SFS), will invest a low triple-digit million USD amount in Electrify America and now hold a seat on the board. Siemens is the first external investor in Electrify America. 

Latham & Watkins LLP represents SFS, the B2B financing arm of Siemens, in the transaction with a cross-border corporate deal team led by New York partners James Gorton and Eyal Orgad, with New York associates Daniel Williams and Aaron Robinow, and Munich partner Rainer Traugott. Advice was also provided on tax matters by New York partner Matthew Dewitz; on benefits and compensation matters by New York partner Jennifer Pepin, with New York associate Anne Bracaglia; on intellectual property matters by Washington, D.C. partner Jeremy Wolsk, with Washington, D.C. associate Sanjana Parikh; on environmental matters by Washington, D.C. partner James Barrett, with Washington, D.C. associate Phil Sandick; on regulatory matters by Washington, D.C. partners Jim Barker and Tyler Brown; and on antitrust matters by Washington, D.C. partner Michael Egge, with Washington D.C. associate Doug Tifft.