Mer has sold its entire UK public charging business to Be.EV while retaining its fleet operations.

The deal will see Mer’s UK public charging assets fully integrated into Be.EV’s existing network and the combined organisation will be supported by a “streamlined” team following completion.

Mer, owned by Norwegian renewable energy firm Statkraft, will refocus its public EV charging strategy on its core European markets, but will continue to operate its fleet charging network in the UK, which includes approximately 500 workplace chargers available to employees and site visitors.

Kristoffer Thoner, CEO at Mer, said: “This transaction supports Be.EV’s growth while allowing Mer to sharpen our strategic focus on our core European markets. Ultimately, both companies share the same goal – making EV charging simple and accessible for everyone.”

The acquisition will more than triple Be.EV’s charging footprint, adding over 1,600 extra charging bays across more than 450 sites. This expands the Manchester-based firm’s network across the UK with in excess of 2,500 bays and 680 sites in total.

The acquisition complements Be.EV’s existing presence in the North and Midlands, while strengthening its network across the south of England.

It also moves the business into the UK’s top 10 largest charging networks by rapid and ultra-rapid charging bays.

Mer’s UK public charging assets will be fully integrated into Be.EV’s existing network and current customers will still be able to access existing chargers, while benefiting from Be.EV’s pricing. No sites are expected to close as part of the acquisition.

The deal comes just days after Asif Ghafoor, CEO of Be.EV, told The Guardian that a wave of mergers and acquisitions is likely to shrink the number of charge point operators from as many as 150 to a market dominated by five or six players.

Ghafoor warned that rising costs, intense competition and delays to the Government’s Local Electric Vehicle Infrastructure (LEVI) funding were impacting charging companies, prompting consolidation. Earlier this week, Shell-owned Ubitricity announced that it has acquired FM Conway’s SureCharge London EV charging network while Connected Kerb acquired Trojan Energy for an undisclosed sum after the EV charging solutions firm entered administration.

Be.EV is majority owned by Octopus Energy Generation’s Sky Fund, including an employee ownership stake. The fund has raised over £2.5bn from institutional investors and invests into a globally diversified portfolio of renewable and energy infrastructure assets.

The majority of the newly enlarged network will, in time, be powered by Octopus Energy and offer nationwide access to Be.EV’s 39p/kWh subscription tariff and 7pm-7am off-peak pricing. The latter is said to be the UK’s longest off-peak charging window.

Be.EV’s Asif Ghafoor said: “This acquisition brings the reliable Be.EV experience to more places, and the scale we gain helps us keep public charging affordable – including our market-leading off-peak and subscription pricing from 39p/kWh.

“It’s a natural fit with our existing network and will sit alongside our continued investment in new sites and service improvements.”

Be.EV said synergies from the combined network are expected to accelerate the company’s path to profitability while supporting continued organic growth through new site development.

The charging firm said it would continue and build upon the strong, well-performing network developed by Mer. Investment will include targeted upgrades and selective replacement of equipment over time, with a focus on “enhancing discoverability, reliability and customer experience”.

Be.EV was advised by DLA Piper (legal); Alvarez & Marshall (finance and technical) and EY (tax). Mer were advised by BNP Paribas and Pinsent Masons.