Muckle advises management team on strategic buyout
Legal specialists in our award-winning corporate team recently advised the management team of Mer Fleet Services on its buyout from Norwegian state-owned power group Statkraft.
Mer, electric vehicle subsidiary of Statkraft, divested its UK business, Mer Fleet Services, via the management buyout. The move allows Statkraft to focus Mer’s public charging strategy on its markets in Europe, specifically Norway, Sweden, Germany, and Austria.
The transaction marks an important milestone for both businesses, taking place just months after Mer sold its public UK EV charging business to charge point operator Be.EV, owned by Octopus Energy, aiming to strengthen Be.Ev’s presence in the south of England.
Building on business momentum
Mer Fleet Services will continue operating independently, but under new ownership, led by key members of the existing management team, ensuring efficiency and continuity for the business, customers and partners. The new management team, comprising Paul Winchester as CEO, Natasha Fry as CCO, Jane Crosby as CFO and Louise Gillingham as COO, will be among the new shareholders of the company.
Under the new leadership, the business, which currently provides around 500 workplace chargers to employees and site visitors, continues to maintain and expand its workplace and commercial fleet charging operations.
The next phase of the business strategy will involve a continued investment in the business, technology and service offering as Mer undergoes a structured transition programme. This includes a refresh to branding, digital channels, and customer-facing media whilst ensuring continuity of exceptional customer service.
Forward-thinking corporate advice
Stephanie Brown, partner in our corporate team, led on advice supported by Adam Rayner.
Stephanie said, “It was a pleasure to work with the management team on this MBO, which marks the next important phase of Mer Fleet’s business strategy. We wish the company and the new leadership team the very best in this new chapter.”