M&A · Industrials · Miscellaneous Transportation Equipment
Shell plc to acquire Volta Inc.
Announced Jan 18, 2023 · Closed Mar 31, 2023
Deal value$169MEV $169M
Premium18.0%To unaffected price
EV / Adj. EBITDA—3.4x EV / Revenue
ConsiderationAll cash$0.86 per share
Transaction
- Acquirer
- Shell plc (SHEL)
- Target
- Volta Inc. (VLTA)
- Buyer type
- Strategic
- Offer price per share
- $0.86
- Enterprise value
- $169M
- Status
- Closed Mar 31, 2023
Deal protections
- Break fee (target pays)
- $5.9M · 3.5%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- UBS
- To the target
- Raymond James
Sector context · Industrials
- Comparable deals
- 81 in the prior 24 months
- Premium
- 18.0% vs. 47.0% sector median
- EV / Adj. EBITDA
- Sector median 11.9x
- Break fee
- 3.5% vs. 2.8% sector median
Timeline
- AnnouncedJan 18, 2023
- Proxy filedFeb 8, 2023
- Definitive proxyFeb 21, 2023
- Shareholder voteMar 29, 2023
- ClosedMar 31, 2023