Gateway Fleets, a US-based company focused on electrifying logistics fleets, has secured a capital injection from Partners Group.
The investment will give Partners Group a controlling stake in the company and provide “significant capital” for future expansion.
Partners Group said it is making the investment through its $26bn (€23.3bn) infrastructure business, but financial details were undisclosed.
As part of the deal, Partners Group said it will appoint three operating directors to Gateway’s board of directors, who will help drive a “transformational value creation plan” at the company, alongside other board members, shareholders and management.
Based in San Francisco, Gateway Fleets provides a complete solution for electrifying logistics fleets. The company offers electric vehicles (EV) and charging stations at depots, which are built by repurposing brownfield land.
Andre Burba, managing director of infrastructure Americas at Partners Group, said: “We identified Gateway through our deep thematic research into new mobility, which is a theme that looks at the infrastructure required to support changing consumer and societal trends.
“After reviewing a number of investment opportunities over the years, we developed a strong view of what a winning transformational business model should be in the EV fleet migration space. Gateway met those criteria due to its tangible contract pipeline with anchor customers and a repeatable development model with a visible opportunity to scale in the near term.”
Bruce Pflaum, founder and CEO of Gateway Fleets, said: “The EV migration market is at an inflection point in the US. Transportation is a key source of emissions for corporates and therefore forms part of many decarbonisation plans, which is set to drive demand for EVs.
“Partners Group has extensive operational experience in building infrastructure businesses and we welcome the firm as our lead shareholder.”
Javier Cuellar, member of management for Americas infrastructure, said: “Gateway provides a solution that addresses the key pain points in fleet electrification for logistics operators. These operators have a strong use case for EV migration due to relatively high daily mileages, return-to-base operations and route predictability.
“We look forward to working with the company’s experienced management team and our operating directors to build a world-class electrification-as-a-service platform.”
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