Ampol to acquire Evie Networks for $225 million
- Ampol has signed a share sale agreement to acquire 100% of Evie Networks for $225 million.
- The deal creates a combined network of approximately 1,425 charging bays across more than 400 sites.
- Ampol stated that the acquisition aims to accelerate its strategy to build a public electric vehicle charging scale in Australia.
Ampol (ASX:ALD) has entered into an agreement to acquire 100% of Fast Cities Australia, known as Evie Networks, for $225 million.
The acquisition adds over 1,030 charging bays to Ampol's existing AmpCharge network, expanding its total footprint to roughly 1,425 bays across more than 400 Australian locations.
"The acquisition secures a portfolio of well-located sites with long-dated average lease tenure and established grid access that we believe will become increasingly valuable as BEV adoption accelerates in the years ahead," said Ampol CEO and Managing Director Matt Halliday.
Ampol stated that the combined business is anticipated to achieve annualised EBITDA of $30 million within three years post completion, supported by Evie Networks' sites featuring a weighted average lease expiry of approximately 10 years.
Completion of the deal remains subject to clearance from the Australian Competition and Consumer Commission alongside other customary closing conditions.
Following the announcement, the Ampol share price was unchanged at $43.10.
Independent market analysis indicates that Australia's public DC fast-charging segment remains under-developed relative to global peers and is expected to grow substantially over the coming decade.
The transaction connects Evie Networks' established grid access with Ampol's existing fleet customer relationships and operational scale across Australia.
