Houlihan Lokey Advises InCharge Energy
Houlihan Lokey is pleased to announce that InCharge Energy, Inc. (InCharge) has sold a majority interest in the company to longtime partner ABB Ltd. An early investor in InCharge, ABB has increased its stake to 60%. InCharge will maintain its leadership team and hardware neutrality as it joins ABB’s E-Mobility Division. The transaction closed on January 26, 2022.
InCharge is on the front lines of large-scale emissions reduction, accelerating the electrification of the transportation industry—one commercial fleet at a time. With end-to-end, turnkey solutions for commercial EV infrastructure projects, InCharge equips fleet managers with the top brands in charging hardware and software; customized hardware and software products; short-, mid-, and long-range plans for seamless fleet and facilities transition to EVs; financing; and maintenance and corrective repairs over the life of the charging assets. InCharge develops innovative hardware, software, and services designed and engineered specifically for fleets, such as service-dispatch-integrated software; fleet-management-integrated software; electricity load management; durable cable management products; and high-reliability maintenance, repair, and warranty services. Whether a fleet has 200 sedans or 20,000 Class 8 trucks, the team at InCharge serves a diverse clientele throughout North America, including major commercial fleets, truck, and bus manufacturers, rideshare operators, EV manufacturers, school districts, municipalities, and facilities owners, among many others. Headquartered in the world’s first zero-emissions delivery zone in Santa Monica, California, InCharge was founded by EV industry veterans Cameron Funk and Terry O’Day. The company has additional operations in San Francisco, Michigan, and Virginia.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation, and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. ABB’s E-Mobility Division is a global leader in EV-charging technology with the highest uptime and largest installed base of DC fast chargers in the market.
Houlihan Lokey served as the exclusive financial advisor to InCharge and assisted in structuring and negotiating the transaction on behalf of the company. This deal exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the automotive and EV sectors.
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