By Brigette Currin 4 minute read

EO Charging

EO, founded in 2014 and headquartered in the UK, is a provider of technology-enabled turnkey solutions for EV fleets integrating charging infrastructure, software and services solutions specifically focused on vehicle fleets, addressing the complete life cycle needs specific to commercial and governmental fleet operators.

The Company’s customer-centric approach to fleet electrification enables logistics operators to align fleet charging solutions to the unique aspects of their business through a fit-for-purpose turnkey offering. EO’s industry leading EV charging solutions allow fleet managers to monitor their vehicles, manage charging costs and optimize operations, without relying on multiple service providers along the EV charging value chain.

EO currently serves some of the world’s leading corporations in the UK and Europe such as Amazon, DHL, Go-Ahead, Tesco and Uber. EO has deployed approximately 50,000 chargers in more than 35 countries worldwide since inception. The Company ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies in 2021, the highest position of any company operating in the EV sector on the list.


“Our partnership with FRSG is a great step forward in EO’s already successful journey,” said Charlie Jardine, Founder and CEO of EO. “Through this exciting combination, EO is positioned to accelerate our growth timeline, expand our geographic reach, and drive innovation to deliver an ever advancing suite of solutions to our fleet customers. We have developed an EV charging ecosystem that makes EO the ultimate plug-in charging partner for any business. We are proud of our established position across Europe, and are excited at the opportunity to expand our services to the global market. Our outlook has never been stronger, supported by the accelerating pace of EV adoption by fleet operators in our key markets and across the world. EO’s differentiated charging solutions think beyond the plug by providing mission-critical charging hardware, software and services under one roof – taking the friction out of the electrification process for our fleet customers.”

“We are proud to partner with Charlie and the entire EO team to help accelerate the decarbonization and long-term sustainability of the fleet vehicle model,” said Neil Wizel, CEO and Director of FRSG. “EO’s differentiated approach to serving the EV charging market through customized charging solutions spanning hardware, software and services results in a truly unique customer experience which meets the intense reliability and functionality demands of its fleet customers. With the enhanced resources and platform this transaction brings, EO is positioned to expand its reach and advance its mission of delivering smart energy technologies and solutions for the future.”

The transaction implies a pro-forma enterprise value of the combined company of $675 million and is expected to provide $222 million in gross proceeds assuming no redemptions by FRSG’s public stockholders. Total proceeds include over $150 million to fully-fund EO’s growth plans, retire any outstanding indebtedness, and for transaction fees and expenses, with the remainder paid as cash consideration to existing shareholders, in addition to the equity in the combined company to be received by existing shareholders.

Charlie Jardine, as CEO of the combined company, will drive EO’s strategic growth initiatives and expansion working alongside EO’s existing executive team.

The transaction has been unanimously approved by the boards of EO and FRSG. Completion of the proposed transaction is subject to customary closing conditions, including the approval of FRSG’s stockholders, and is expected to occur in the fourth calendar quarter of 2021.

Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by FRSG with the Securities and Exchange Commission (the “SEC”) and available at

For additional materials related to the business combination, including an investor presentation, please visit