Hogan Lovells advises Infracapital Partners Greenfield Fund II on its investment in Zenobē

Zenobē is an EV fleet and grid-scale battery storage specialist, headquartered in the UK and operates across Europe and Australasia. Zenobē is the largest owner and operator of EV buses in the UK, Australia and New Zealand and has a c.25% market share of the UK EV bus sector and c.1000 electric vehicles supported globally.

The investment committed by IGP II and KKR and the added expertise and global network that KKR brings will complement IGP II’s presence in Europe and play a crucial role in supporting Zenobē’s growth initiatives in the UK, North America, Europe, Australia and New Zealand. The investment will fuel the expansion of the company’s fleet electrification and grid-scale battery storage business, accelerating the decarbonisation of fleet transportation and maximising the uptake of renewables. 

The Hogan Lovells team was led by infrastructure and energy and projects partner Philip Brown with support from senior associates Beth Addy and Imogen Walsh, counsel Mark Nash and associate Ellie Thwaites. The team also included partners Jeremy Pickles and Nicholas Holman, senior associate Hannah Kaye and associate Sophie Marson, who advised on the investment funds aspects of the transaction, alongside partner Fiona Bantock, senior associate Callum Fowers and associate Ellie Pardy on management incentive scheme arrangements. 

Philip Brown commented: "We are delighted to have been part of this landmark transaction in the energy transition sector. This was an extremely complex transaction which required close collaboration between the various tax and legal advisors to bring to fruition. We enjoyed supporting Infracapital into the next phase of its ownership of Zenobē."