EQT to Acquire British Electric-Vehicle Charging Firm InstaVolt

EQT AB is betting on the rise of green motoring in the U.K. with a deal to buy an operator of electric-vehicle chargers in the country.

The private equity firm’s infrastructure arm has agreed to acquire InstaVolt from Zouk Capital for an undisclosed sum, according to a statement Tuesday.

Founded in 2016, Basingstoke, U.K.-based InstaVolt operates 700 charging points for electric vehicles, mostly at retail, food and beverage forecourts.

While EV take-up in the U.K. more than tripled between 2019 and 2021, charging points only increased by 70%, the Society of Motor Manufacturers and Traders said this month.

In response, ...