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Advance Capital is pleased to announce the sale of 49.99% in E-PROM, a leading Russian manufacturer of EV charging stations. The investor is a pre-IPO fund managed by WIM Investments.

E-PROM is one of the leaders in the Russian EV charging station market. The company’s product range covers all segments: from “slow” stations with a capacity of 7–44 kW to “ultra-fast” stations with capacity of up to 300 kW. In addition, E-PROM develops its own software for EV chargers, ensuring energy efficiency and safety.

The Pre-IPO Fund 2 of WIM Investments was established to invest in fast-growing mid-sized companies with potential for a future exit through IPO or a sale to a strategic investor.

The deal with a financial investor will support E-PROM’s business expansion by enlarging its client base and broadening the geographic reach of its EV charging station sales.

Nikolay Smirnov, Commercial Director of E-PROM:

"A partnership between E-PROM and WIM Investments opens a new chapter in the development of our company. We expect that WIM, as an institutional investor, will bring best practices in corporate governance and facilitate business growth through its extensive partner network.”

Alexey Schastlivov, Head of Direct Investments, JSC WIM Investments:

“JSC WIM Investments is a leader in the Russian Private Equity market. We closely follow trends and the formation of new promising markets. Our investment in E-PROM aligns with international private equity trends, where investors such as Blackstone, Carlyle, TPG, EQT, Warburg Pincus and others have already backed EV charging station manufacturers. We are seeing strong growth in consumer interest in EVs and hybrids in Russia. An important factor for developing this market is building a quality charging infrastructure, and we see great potential in our new portfolio company E-PROM.”

Magomed Askhabov, Fund Manager of WIM Pre-IPO Funds 1 and 2:

“Investing in E-PROM is a natural continuation of our strategy in the e-mobility sector, where we have already successfully completed deals with Whoosh, the leading e-scooter sharing company, and Moy Samokat, an e-bike rental service for couriers (brand ‘Kruti Kolesa’). We foresee rapid growth in the number of EVs and hybrids on Russian city streets. The key constraint for the market remains the underdeveloped charging infrastructure. E-PROM not only helps to solve this problem, but also aims to generate significant returns for our fund’s investors.”

Artur Shubaev, Partner and Executive Director, Advance Capital:

“This is already the second transaction our bank has closed involving the sale of an EV charging infrastructure producer and we see high interest from both financial and strategic investors in this sector as well as in the broader electrical equipment market. We are confident that E-PROM will reach new heights with its new institutional investor.”

Advance Capital acted as the exclusive financial advisor to E-PROM.

The terms of the deal were not disclosed.