Why Ampol (ASX:ALD) Is Acquiring Evie Networks?

Sonal Goyal

05 October 2026 02:39 PM AEDT

Why Ampol (ASX:ALD) Is Acquiring Evie Networks?

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Ampol Limited (ASX:ALD) announced on 1 October 2026 that it has entered into a Share Sale Agreement to acquire 100% of Fast Cities Australia Pty Ltd, trading as Evie Networks, for $225 million.

Business Model and Operational Footprint

Ampol Limited is an Australian integrated energy company engaged in the refining, supply, distribution, and retail of transport fuels and related products. The Company operates an extensive network of fuel retail sites across Australia and New Zealand and has a growing energy solutions Business focused on transport energy including electric vehicle charging through its AmpCharge network. The Acquisition of Evie Networks would add more than 1,030 charging bays to AmpCharge's existing network, creating a combined platform of approximately 1,425 bays across more than 400 sites in Australia as at 29 September 2026.

Commodity Dynamics

Battery electric vehicle adoption in Australia has been accelerating, and the public DC fast-charging market is identified as the largest value pool in the BEV charging market. Independent Market Analysis characterises Australia's public DC fast-charging segment as under-developed relative to global peers, with substantial growth expected over the coming decade. Evie Networks has been operating as an EV charging infrastructure provider for nine years and has developed a nationwide network of fast and ultra-fast charging stations across urban, regional, and highway locations.

Acquisition Details and Strategic Rationale

Ampol, through its Wholly Owned Subsidiary Ampol Energy Pty Ltd, has entered into a Share Sale Agreement to acquire 100% of Evie Networks for $225 million, to be fully Debt funded. The transaction is expected to have a nominal impact on Ampol's leverage, and the Company reiterates its commitment to maintaining its current Baa1 Investment grade Credit rating. The transaction is targeted to complete in the first half of 2027, subject to ACCC clearance and other customary conditions. Full integration is expected to take approximately three years from completion.

The combined business is anticipated to achieve annualised EBITDA of $30 million within three years post completion, including anticipated public charging Demand growth, network expansion, and synergies. Ampol is targeting approximately $10 million in cost synergies within three years post completion and anticipates achieving breakeven EBITDA from the combined charging business in 2028. Double-digit per annum EBITDA growth is targeted thereafter. Evie Networks' sites have a weighted average Lease expiry of approximately 10 years and established grid connectivity.

Growth Catalysts and Critical Operating Risks

Catalysts include successful receipt of ACCC clearance, realisation of cost synergies, growth in public charging demand as BEV adoption accelerates, and the potential expansion of charging capacity at existing Evie Network sites with spare grid capacity.

Key risks include the receipt of ACCC clearance, which cannot be guaranteed. The transaction is fully debt funded, introducing Leverage risk. Integration execution, achieving the targeted synergies, and the pace of actual BEV adoption in Australia relative to market forecasts also represent risks.

FAQs

Q: How much is Ampol paying for Evie Networks?

A: Ampol is acquiring 100% of Evie Networks for $225 million, to be fully debt funded.

Q: What is the expected financial performance of the combined charging business?

A: The combined business is anticipated to achieve annualised EBITDA of $30 million within three years post completion, with breakeven EBITDA expected in 2028 and double-digit per annum growth targeted thereafter.

Q: When is the acquisition expected to complete?

A: The transaction is targeted to complete in the first half of 2027, subject to ACCC clearance and satisfaction of other customary conditions precedent.

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