DLA Piper Advised EV Infrastructure Operator, Roam, On Major Debt Raise
DLA Piper Advised EV Infrastructure Operator, Roam, On Major Debt Raise
DLA Piper has advised Roam, a leading operator of electric vehicle (EV) infrastructure in the UK, on its successful major debt raise for UK EV fast-charging from NatWest, Triodos Bank and the UK Government's National Wealth Fund. The financing represents a landmark transaction for the sector and will accelerate the deployment of Roam’s UK destination charging sites, advancing the roll out of its 40,000-strong pipeline, which includes 5,500 charging points already under exclusivity. Roam has already installed 3,000 UK charging points.
Backed by Denham Capital Management, Roam installs and manages alternating current (AC) – or fast-charging – points in places where people park as part of their lifestyle, for example at workplaces, hotels, residential flats and shopping and leisure centres. This enables a ‘charge while you park’ approach, giving users more flexibility and choice as the UK transitions to greater EV adoption.
Chief Financial Officer of Roam, Jeffrey Kriek, said, “We’re delighted to have the support of these major and trusted lenders and to DLA Piper for helping to secure this important debt facility. It will allow us to respond to geographical demand patterns for EV charging across the UK, providing reliable, affordable and easily accessible infrastructure to give our customers the reassurance they need to join the electric vehicle revolution”.
Rubayet Choudhury, commenting on the deal, said, "We're delighted to have supported Roam and Denham Capital on this milestone transaction, accelerating Roam's network rollout to give EV drivers greater choice and flexibility. It's another example of how we regularly advise clients on innovative and complex financing solutions for our clients in the energy and infrastructure sectors in the UK and internationally.
The DLA Piper team was led by Finance Rubayet Choudhury (Partner), working with Nikhil Markanday (Partner), and Mark Valenzia (Legal Director), Jacques Camilleri (Legal Director), and Shamim Khan (Senior Associate), Ben Collins (Senior Associate), Umah Kathirgamathamby (Senior Associate), and Raluca Padure (Associate).
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