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Schneider Electric buys US EV supplier

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Schneider Electric buys US EV supplier

July 02
21:40 2022

French energy services company Schneider Electric has acquired United States electric vehicle (EV) infrastructure company EV Connect.

Debevoise & Plimpton acted as legal adviser to Schneider Electric on the deal, which was announced on 21 June, and for which deal terms were not published.

Headquartered in the Greater Paris region, publicly listed Schneider Electric focuses on energy management, automation and digital transformation solutions. It operates worldwide, with clients across 41 US states including the New York Power Authority and Verizon.

California-based EV Connect was founded in 2009, and provides EV charging infrastructure. Following the transaction it has become a subsidiary of Schneider Electric, with EV Connect’s founder and former CEO Jordan Ramer continuing with his lead role in the division.

In a statement, Schneider Electric’s chief innovation officer Nadège Petit said: “At Schneider Electric, we believe that electric and digital are the recipe for a more sustainable and more resilient world,” adding: “EV Connect has a very similar vision.”

Debevoise & Plimpton used a team headed up by mergers and acquisitions (M&A) practitioners Paul Bird and Spencer Gilbert, with assistance from fellow partners Jonathan Lewis on employee benefits, Peter Furci on tax matters, Henry Lebowitz on intellectual property aspects and Luke Dembosky concerning data strategy and security.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

Media Contact
Company Name: ABC Private Limited
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Country: India
Website: https://www.se.com/in/en/

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