Q&A with Joseph Schottland of EV+ Charging
Chief Executive Officer
Founded in early 2022, EV+ Charging is dedicated to simplifying EV enablement for commercial real estate owners with a turnkey, fully outsourced charging solution. The company owns and manages a stand-alone EV charging business within its clients’ properties under exclusive, long-term (10+ year) contracts, which covers system design, installation, day-to-day operations, maintenance, and customer support. This tailored service is designed to seamlessly meet the charging needs of tenants, guests and residents who pay to use the system, while ensuring property owners can effortlessly realize the financial benefits of providing on-site EV charging without any of the typical financial, operational or commercial responsibilities associated with providing the amenity.
Join us for a private Family Office Insights webinar featuring Joseph Schottland, a forward-thinking transportation and real estate leader focused on enabling the commercial real estate sector to benefit from the meteoric growth of electric vehicles sales in the United States. He brings a 25-year track record in transportation, mobility & infrastructure as a McKinsey partner, operator, commercial lender and private equity partner. Now, as the CEO of EV+ Charging, he has integrated these experiences and built, what is now the nation’s leading EV charging outsourcing solution provider to owners of commercial real estate.
January 25, 2024 at 2:15pm-3:15pm EST
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What is the exit path?
The company has most of the building blocks in place where some type of transaction is viable: i) core leadership team; ii) viral, low-cost customer acquisition process; iii) national network of installation partners; iv) hardened software/hardware solution; and v) three years of audited financials (the end of 1Q24). With these in place, there are at least two potential options. The first option is to be acquired by a large European utility or charge point operator where their market is far more mature, they are looking for growth and EV+ Charging's model is better understood and accepted. The second option is some form of a go-public transaction. The company was designed from the onset to be a public company with much of the necessary tax, audit advisors and processes already in place. As for timing, the board and leadership team anticipate exit scenarios sometime within 12-24 months from now.
What is the typical payback period for contracted properties?
EV+ Charging maintains tight underwriting rules and typically contracts with properties when its initial capital deployed to install the system can be recovered within 3-4 years. However, for multi-property owners, the underwriting rules apply at the portfolio level. On average, each property generates ~$400-$500K in gross profit over the life of the contract so even for properties that have longer payback periods, the cash flowing nature of the business makes for compelling economics.
What are the biggest risks facing the business?
The company has a network of >100 senior real estate executives that are leveraging their reputations and relationships to actively recommend EV+ Charging to their friends and clients. The company already has >230 properties under long term contract and another several hundred in negotiation. So long as the company has the capital to deploy the chargers for properties that meet its underwriting criteria, value creation is nearly assured. However, the biggest risk is if there is not enough capital to honor its contract commitments which then impair the
Joseph Schottland of EV+ Charging
Joseph Schottland: 25 years’ experience in transportation, infrastructure, mobility and commercial real estate. He was one of the four partners that formed Innovatus Capital Partners, a $1.8B AUM private equity firm focused on commercial real estate, structured credit, middle market distress and venture lending before leaving to start EV+ Charging. Before that, he spent 15 years as a strategy consultant and former McKinsey partner where he specialized in transportation, mobility and infrastructure. He has an MBA from Columbia Business School and a BS from New York University.
Contact Joseph : firstname.lastname@example.org