DLA Piper advises Cube Infrastructure Managers on its acquisition of a majority stake in Kople AS
DLA Piper Norway has advised Cube Infrastructure Managers, a leading midmarket infrastructure investment manager, on the acquisition by Cube Infrastructure Fund III (“Cube”) of a majority stake in Kople AS (“Kople”), a leading Electric Vehicle (“EV”) charging platform in Norway.
January 17 2022 Cube and Ringerikskraft, a Norwegian local energy utility, announced their alliance in the EV charging infrastructure sector in Norway. Kople is the EV charging network subsidiary of Ringerikskraft.
The partnership will be structured around the acquisition by Cube of a majority stake in Kople, and its injection of NOK 390 million in the company to support its growth and geographic expansion.
Ringerikskraft has been active in the Norwegian EV charging market since 2010, creating the Kople brand in 2019 prior to transferring its assets, expertise and dedicated team into a separate Kople entity in 2021.
Kople currently operates a network of 2,300 electric vehicle chargers in Norway. With the combined support of Ringerikskraft and Cube, Kople intends to scale up its growth plans and accelerate its network deployment across Norway and the Nordics. Norway is the most advanced European country in terms of EV adoption per capita and one of the fastest growing thanks to strong governmental support and ambitious decarbonation targets.
The investment in Kople is the fourth transaction led by Cube in the European EV charging sector, reflecting its continued commitment to sustainable mobility across the continent. Cube has been active in Norway for more than a decade with previous investments in public transport and renewable energy generation.
We are proud to have been part of this transaction within the renewable energy sector and the strengthening of Cube’s Norwegian and Nordic presence. The DLA Piper team was led by Corporate/M&A partner Fredrik Lykke with support from Anniken Sjøvold, Astrid Jogerud, Ellen Merli and Thea Åkermoen.
