RAW Charging has acquired the ongoing operations of Franklin EV ahead of its parent company Franklin Energy being put into administration.
The acquisition – which was for an undisclosed amount – will see RAW take on 128 electric vehicle (EV) charging ports currently owned and managed by Franklin, as well as a further 370 managed EV chargers which are to provide recurring revenues for RAW.
These chargers are to be integrated into RAW's platform, with the acquisition helping to grow the company's portfolio of AC and DC charging assets across the UK and Europe.
RAW has also acquired the LiFe Network, which controls the EV chargers and is to continue to provide access to the 10,000+ registered drivers.
"RAW has a significant pipeline across the UK and Europe and with the addition of the Franklin assets and sales pipeline we are confident in rapidly scaling up to generate consistent returns from our chargers to fund future growth," Bruce Galliford, CEO, RAW Charging, said.
The transaction follows RAW signing partnerships with Greene King for the installation of chargers across 800 managed pubs and hotels, and McArthurGlen, where RAW is installing EV chargers at designer outlets across the UK and Europe.
Franklin, meanwhile, announced plans earlier this year to deliver a 236-bay EV charging hub at the Brent Cross Shopping Centre car park in north London, with the landlord-owned hub to be the UK’s largest when it's completed, according to joint owners of the site Hammerson and Aberdeen Standard Investments.