DLA Piper advised SemaConnect, Inc., a leading provider of electric vehicle (EV) charging infrastructure solutions in North America, in its acquisition by Blink Charging Co. (Nasdaq: BLNK, BLNKW) for US$200 million in cash and stock.
Blink Charging is a leading owner, operator, and provider of EV charging equipment and services. Its acquisition of SemaConnect will add approximately 13,000 EV chargers, 150,000 registered EV driver members, and 3,800 site host locations to Blink’s footprint and operations.
The transaction will combine SemaConnect’s in-house research & development, manufacturing capabilities and hardware design with Blink’s EV charger ownership and operations, which will further strengthen the company’s vertical integration and allow it to reduce its operating costs and accelerate its go-to-market speed.
The acquisition will also place Blink in compliance with the Buy America mandates and allow the company to benefit from the Biden Administration’s US$7.5 billion EV infrastructure bill.
“Congratulations to SemaConnect and Blink Charging on this deal that will not only strengthen its vertical integration but also expand its footprint and operations,” said Jeffrey Lehrer, chair of DLA Piper’s US Emerging Growth and Venture Capital practice and co-lead of the firm’s deal team.
“It was a pleasure working with SemaConnect and bringing together our deep knowledge and extensive experience in M&A transactions involving public companies,” said J.A. Glaccum, DLA Piper partner who co-led the firm’s deal team.
In addition to Lehrer (Northern Virginia) and Glaccum (Houston), the deal team included partners Shaked Hoter and Julia Kovacs (both in Washington, DC), Drew Valentine (Austin) and Tom Geraghty (Chicago); and associates Susan Kim (Washington, DC) and Austin Patterson (Austin).
“The EV industry is dynamic and fast-changing. We’re grateful for DLA Piper’s sector insights and for supporting us as we navigated the business and legal landscape,” said Mahi Reddy, Chief Executive Officer & Founder of SemaConnect.
DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers in the US who provide strategic counsel to emerging companies in high-growth industries, including biotech, manufacturing, communications, software and semiconductors. Over the last three years, DLA Piper has completed more than 1,800 financings totaling over US$58 billion.
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.