Electric or hybrid car charging
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Latham & Watkins Advises ZEPLUG on Its €240 Million Fundraising and Acquisition of BORNES SOLUTIONS

September 26, 2022
A multidisciplinary team represents the French startup in the transaction.

ZEPLUG, a leading European provider of electric vehicle charging services in multi-occupant and office buildings, has announced that it has raised €240 million from ICG Infra, and acquired BORNES SOLUTIONS, a subsidiary of OCEA SMART BUILDING, a portfolio company of ICG Infra.

The transaction represents a major milestone in the history of ZEPLUG as well as the energy transition industry. The integration of BORNES SOLUTIONS will bring great synergies to strengthen its position in the French market. ZEPLUG will use the capital raised from ICG Infra to fund its expansion and further accelerate the growth in Europe and in the US.

Since its creation in 2014, ZEPLUG has pioneered the energy transition through its integrated model that addresses the challenges of EV charging in multi-occupant and office buildings. The funding will unlock the next phase of ZEPLUG’s growth through the rollout of its highly scalable EV charging solution.

The Latham team was led from Paris by corporate partner Pierre-Louis Cléro, with Xavier Nassoy and Alexandre de Puysegur. Advice was provided on tax aspects by partner Xavier Renard with Camille Pons and Jean-Baptiste Bourbier; on finance aspects by partner Michel Houdayer with Aurélien Lorenzi and Léa Demulder; on antitrust aspects by partner Jacques-Philippe Gunther and Wenceslas Chelini; on employment law aspects by partner Matthias Rubner and Léo Theillac; and on commercial contracts by partner Jean-Luc Juhan. In London, advice was provided by corporate partner Mike Turner and Terry Charalambous.