Cameron Barney Herbst Hilgenfeldt (CBHH) advises Connected Kerb on its £65m capital injection from The National Wealth Fund and Aviva
January 2025
Cameron Barney Herbst Hilgenfeldt LLP (“CBHH”) is pleased to announce that it acted as exclusive financial advisor to Connected Kerb (the “Company”) in obtaining an investment of £65 million from The National Wealth Fund (“NWF”) and Aviva Investors (“Aviva”) to accelerate the UK's EV public charging network expansion.
The fundraise sees NWF commit £55m in ordinary equity alongside a further £10 million ordinary equity investment from Aviva Investors, the global asset management business of Aviva plc. The new funding package will support Connected Kerb's ambitious plans to expand its UK EV charging network towards 40,000 sockets, up from the 9,000 already installed at the end of 2024.
Connected Kerb is an award-winning designer, installer and operator of on-street and destination electric vehicle charging infrastructure. Founded in 2017, Connected Kerb has become the second largest public charging network in the UK and is growing at a faster rate than any other UK network. The Company’s national coverage spans locations including Cambridge, Cardiff, Coventry, East Lothian, Gloucestershire, Kent, Surrey, Shropshire, South Tyneside, Stirling and West Sussex. By installing on-street infrastructure, Connected Kerb is addressing the gap in EV uptake between drivers who can charge off-street on their own driveway and those who do not have access to off-street parking (the case for c.60% of dwellings in urban areas). Connect Kerb's chargers are manufactured in the UK, supporting economic growth and green job creation.
“This investment from NWF and Aviva is a significant milestone for the business and gives us the capital needed to accelerate our rollout of charging infrastructure across the UK. We are grateful for the considerable commitment, support and advice that the CBHH team has provided to Connected Kerb in guiding us through the long and intense due diligence and negotiations required to close a deal of this scale involving both NWF and Aviva.”
“We are delighted to have advised Connected Kerb on this landmark transaction with The National Wealth Fund and Aviva Investors which will have a transformative impact on the decarbonisation of the UK’s transport sector. Connected Kerb’s ability to defend its rollout and utilisation projections, which are grounded in the underlying performance of the Company, was a key feature in securing this funding round. We enjoyed working with Connected Kerb’s executive team and Board and look forward to seeing the Company advance from strength to strength.”
About Connected Kerb
Connected Kerb works with local authorities to build and operate community EV charging in residential streets and local public car parks and also install future-proof EV charging infrastructure at workplaces, retail destinations, car parks, commercial real estate, and for residential developers. Connected Kerb’s charge points support smart charging technology and other future technologies designed to have a positive impact on people and the planet. The company is committed to ensure that no one in the UK lives further than a five-minute walk from a charger.
About The National Wealth Fund
NWF is an investor, operating as a bank, with the aim to drive private sector investment into the UK’s clean energy and growth industries in support of government policy. Created in October 2024 from the UK Infrastructure Bank, NWF aims to mobilise private capital around the government’s strategic priorities. NWF has £27.8 billion to deploy across the capital structure, including loans, equity investments, and guarantees. The Fund is wholly owned by HM Treasury but is operationally independent from government.
About Aviva
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors has operations and offices across Europe, North America and Asia, and has a total of £238 billion in assets under management as at 30 September 2024.
About Cameron Barney Herbst Hilgenfeldt (‘CBHH’)
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital and technology. Cameron Barney LLP is authorised and regulated by the Financial Conduct Authority.
For further information please contact:
CBHH
Tom Strickland +44 7557 350 527
Charles Cameron +44 7785 292 019
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