A key British battery storage company is set to secure a $750 million investment from a US private equity group.
KKR will take a 45 per cent stake in Zenobe, in a deal valuing the company at about $900 million, according to sources familiar with the situation.
Zenobe, which is chaired by Steve Holliday, the former chief executive of National Grid, specialises in battery storage and electric vehicles.
The company claims to power a quarter of the electric bus market in the UK, counting Arriva, Stagecoach, and National Express among its clients.
With contracts in Australia, New Zealand, Benelux and North America, the company had 145 employees at the end of 2022. In the last calendar year Zenobe had a turnover of £33 million,