InstaVolt, an electric vehicle charging network operator, has sold its Iberian business operations in Spain and Portugal to European electric vehicle charging provider Powerdot.

The transaction includes InstaVolt’s charging network and associated employees across the two countries. InstaVolt said the sale is part of its plan to focus investment on its core markets in the U.K. and Ireland.

The sale follows InstaVolt’s recent completion of a £250 million (~$335 million) debt refinancing and a £40 million (~$54 million) equity investment. The company said the financing, supported by shareholders EQT and a consortium of lenders, would help accelerate investment in the U.K. and Ireland.

Delvin Lane, CEO at InstaVolt, said, “This is an incredibly exciting time for the U.K. electric vehicle market. Record levels of BEV adoption, combined with significant advances in vehicle technology and charging infrastructure, provide enormous opportunities for growth. We are also working closely with a number of leading European and Chinese vehicle manufacturers to create an increasingly integrated and seamless charging experience for EV drivers.”

InstaVolt entered the Iberian market in 2023 and established a charging network across Spain and Portugal. The company said Powerdot’s ownership would support the continued development of the network in the region.

The transaction also follows InstaVolt’s acquisition of GeniePoint, a U.K. charging network with over 228 locations and more than 260 charging devices. InstaVolt said the acquisition strengthened its position in the U.K. ultra-rapid charging market and created opportunities for organic growth and future acquisitions.

Smart Grid corporate M&A activity included five transactions in Q1 2026. Smart Charging companies accounted for the highest number of acquisitions during the quarter, according to Mercom’s recently released Q1 2026 Smart Grid Funding and M&A report.

In April 2024, SolarEdge Technologies, a solar power optimization and PV monitoring solutions provider, completed the acquisition of Wevo Energy, a software startup specializing in EV charging optimization and management for sites with large quantities of EV chargers.