Following its recent business combination with Spartan, a publicly listed special purpose acquisition company, Allego announced today its successful listing on the New York Stock Exchange (NYSE). Meridiam welcomes this transaction, which consecrates Allego as a key milestone in its European low carbon energy transition success story.
Following early cooperation with Allego back in 2016, Meridiam acquired Allego in 2018 as a partner of choice to take up the challenge of expanding a pan-European electric vehicle (EV) charging infrastructure. Since then, Meridiam provided capital and its landmark status and development expertise to enable the expansion of Allego’s existing European network, services and technologies. Allego is now a leading pan-European Electric Vehicle (EV) charging company, with over 28,000 public EV charging ports in 12 European countries.
The proceeds of the transaction is expected to help fund Allego’s future growth through the deployment of additional public EV charging sites with fast and ultra-fast chargers in Europe as well as the bolstering of its technological platform. Allego has secured a backlog of 500 new premium sites providing near-term visibility on network development. These expansion plans come at a key moment in European history. They will further contribute to the shift towards less dependence on fossil fuels as well as sustainable and clean mobility.
On this occasion, Thierry Déau, founder and CEO of Meridiam, said:
“We have been a pioneer in the electric mobility space since 2015 and launched, at the Paris-based COP21, our dedicated investment vehicle focused on energy transition. Today, we are particularly proud of this achievement which illustrates our long-lasting commitment to innovative low carbon solutions and Allego’s ongoing success story”.
Meridiam will remain a long-term strategic partner and majority shareholder of Allego, alongside new partners to support Allego’s continued development and contribution to Europe’s transportation sector electrification.
Jane Garvey, Chairperson of our Supervisory Board, is chair of Allego’s Board of Directors. Julien Touati, Partner and Corporate Development Director at Meridiam, Sandra Lagumina, Partner and Deputy Chief Executive Officer at Meridiam, Julia Prescot, Partner and Chief Strategy Officer of Meridiam, and Thomas Josef Maier, Member of the Regional Advisory Board of Meridiam for Central and Eastern Europe are also directors on Allego’s Board.
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Meridiam’s and Allego’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Meridiam’s and Allego’s expectations with respect to future performance and anticipated financial impacts of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Meridiam’s and Allego’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) changes in domestic and foreign business, market, financial, political, and legal conditions; (ii) risks related to the rollout of Allego’s business strategy and the timing of expected business milestones; (iii) the inability to obtain or maintain the listing of Allego’s ordinary shares on the New York Stock Exchange; (iv) risks related to political and macroeconomic uncertainty; (v) the risk that the operating and strategic initiatives described in this communication are delayed or do not occur at all; (vi) the risk that the benefits to Allego of the operating and strategic initiatives described in this communication are delayed, are less than anticipated or do not occur at all; and (vii) the impact of the global COVID-19 pandemic, including its impact on any of the foregoing risks. The foregoing list of factors is not exclusive. Additional information concerning certain of these and other risk factors is contained in Allego’s most recent filings with the SEC and in the registration statement on Form F-4 (the “Form F-4”), including the proxy statement/prospectus forming a part thereof filed by Athena Pubco B.V. in connection with the business combination on September 30, 2021, as amended on December 14, 2021, January 18, 2022 and February 1, 2022. All subsequent written and oral forward-looking statements concerning Meridiam, Allego, the transactions described herein or other matters and attributable to Meridiam, Allego or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Meridiam expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based, except as required by law.