Herbert Smith Freehills advises Indian EV charger manufacturer Exicom on acquisition of Tritium's businesses

Herbert Smith Freehills has advised India's largest EV charger manufacturer headquartered in New Delhi, Exicom Tele-Systems Limited (Exicom), on the acquisition by its subsidiary in the Netherlands, Exicom Power Solutions BV, of assets and business of Tritium Group (Tritium) in the US and Australia out of insolvency processes.

Exicom, which is listed in India, is a market-leading power management solutions provider, offering cutting-edge EV charging and energy storage solutions across over 15 countries.

Tritium, which was until recently listed on NASDAQ and is headquartered in Australia, specialises in the design and manufacture of proprietary hardware and software to create advanced DC fast chargers for electric vehicles (EVs).

With this landmark acquisition, Exicom is set to unlock substantial long-term growth and value for its stakeholders.  The acquisition adds Tritium's manufacturing facility in Tennessee, US, as well as a world-class engineering centre in Brisbane, Australia, to Exicom's existing presence in Asia. 

Herbert Smith Freehills’ cross-border team was led in London by Corporate partner Siddhartha Shukla, and in Australia by partner and global co-head of Restructuring, Turnaround and Insolvency Paul Apáthy. They worked closely with the senior management of Exicom and Indian law firm Shardul Amarchand Mangaldas. 

The Herbert Smith Freehills team included partners Dhananjaya Chak, James Robinson, Tess Mierendorff, Peter Dalton, Nick Wright, Rohan Doyle, Andre Pretorius, Joseph Falcone, John Chetwood, Luke Simpson, Patrick Gay, Sebastian Taylor, and Jinny Chaimungkalanont.  The wider team included Lauren Jeffries, Raj Mathew, Li-Lian Yeo, Margaret Fong, Arina Abgaryan, Shereen Goh, Toby Goodman, Lily Davies, Tim Gollan, Tyler Hendry, David Peraza, Maria Falcao de Andrade, Adam Ray, Lydia Moore, Ben Elkington, Sam Tappenden, Joanne Holbrook, Samuel Gonski, Christopher Boyd, Jasmine Gharib, Owen Roberts, Kate Devlin, Emily Shapiro and Jonathan Wu.

Sid Shukla commented, "We are delighted to have supported Exicom on this strategically important cross-border transaction for them. It is a great example of Indian businesses with remarkable international ambitions."

Paul Apáthy added, "The transaction was undertaken in a very short timeframe, and I’m proud of the amazing work undertaken by the HSF team to help Exicom reach agreement in these conditions."