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"Entry Into The U.S. Ev Charging Market" Sk E&S Acquires Evercharge, A Leading U.S. Ev Charging Solutions Provider

Mar 23, 2022over 3 years ago

Acquiring Company

SK E&S

Acquired Company

EverCharge

Natural ResourcesEnergySustainabilityTransportationReal EstateSoftware

Description

SK E&S is entering the U.S. electric vehicle charging market.

Company Information

Company

SK E&S

About

SK E&S, established in 1999 and based in Seoul, the Republic of Korea, is an affiliate of SK Group, one of the country's top three business conglomerates with about $137 billion in annual global revenue and more than 140,000 employees worldwide as of 2021. SK E&S is Korea's largest privately-owned liquefied natural gas (LNG) player with globally integrated value chain from upstream natural gas field to midstream LNG regasification terminal and LNG carriers and to downstream city gas distribution, power generation, and district heating cogeneration businesses in Korea. In addition to the strong LNG value chain, SK E&S invests mainly in four growth sectors: Renewables, Energy Solution, Hydrogen and Clean LNG with carbon capture, utilization, and storage (CCUS) technology. In the Renewables and Energy Solution sectors, SK E&S is a leading renewable energy generator with more than 2.5 GW of solar, wind, and fuel cell project portfolio in Korea, and it is expanding to Southeast Asian markets such as Vietnam, etc. SK E&S currently operates about 700 megawatt hours (MWh) energy storage both in Korea and the U.S., including the largest distributed battery energy storage system (BESS) portfolio in California. For more information on SK E&S, visit skens.com

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed