EV Charging Acquisition
Hypercharge Networks Announces Intent to Acquire Texas-Based REVS Charging
Anonymous
Hypercharge Networks Corp. is making its first move into the US market. The Canadian EV charging operator signed a non-binding letter of intent to buy REVS Charging LLC, a Texas-based charging company, according to multiple sources. The deal would cost $3 million upfront, with another $1.25 million possible if REVS hits profit targets over three years.
This is Hypercharge's big step toward consolidating the fragmented EV charging market. The companies have 90 days to hammer out final details, with the option to extend twice more. If approved, the deal won't trigger a change of control at Hypercharge.
Hypercharge Moves South to Build US Platform
Hypercharge operates EV charging stations across Canada and is now chasing growth below the border. REVS brings established charging infrastructure in Texas. According to the announcement, the deal creates Hypercharge's first US operating base and fits its playbook of buying undervalued charging networks at attractive prices.
Payment Structure Ties to REVS Performance Metrics
Hypercharge is paying $3 million in stock at closing. But the real kicker: up to $1.25 million more comes only if REVS hits gross profit milestones. Hypercharge will also loan REVS up to $200,000 during the exclusivity window to help the business stay afloat while negotiations continue.
90-Day Clock Starts for Deal Finalization
The letter of intent locks both sides into exclusive talks for 90 days. If needed, they can extend that window twice more for another 30 days each. Per reports, the deal still needs Hypercharge board approval and typical due diligence before closing. A change of control won't be triggered.
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