TPG in Financing of Gridserve’s Acquisition of The Electric Highway Company
June 4, 2021
Cleary Gottlieb represented The Rise Fund (Rise), TPG’s global impact investing platform, in connection with the acquisition of The Electric Highway Company Limited by Gridserve Holdings Limited (Gridserve).
TPG provided financing of £80 million through senior convertible loan notes and bespoke equity instruments.
The deal signed on June 1, 2021, and the remaining shares of The Electric Highway Company Limited were acquired on June 4, 2021.
The Electric Highway Company is an electric vehicle charging company that provides electric charging stations across much of the UK motorway network through its presence at Moto and Roadchef service stations.
Further detail is available here.