We’re delighted to announce that the recent realisation of Tusker has been shortlisted as Environmental and Sustainability Deal of the Year at the Real Deals ESG Awards 2023.
This award recognises portfolio companies that delivered improvements to their environmental efforts during the lifecycle of a deal and how their partnership with an investor has supported this.
ECI partnered with Tusker in 2015, and during our investment, the business pivoted towards electric vehicles, with electric as a percentage of the total fleet going from less than 10% to over 70%. Tusker’s repositioning of the business as ‘the affordable way to drive electric’ led to significant growth over the hold period.
Paul McCreadie, Partner at ECI, comments:
“This shortlisting is fantastic recognition of what a great business Tusker is. It is also a nod to the excellent work of Paul Gilshan and the Tusker team to reposition the business as the fastest and easiest way to get an electric vehicle. The growth of the business, which led to a successful 6.2x money exit, means more electric vehicles being available to workers, something that is integral to the UK hitting its own Net Zero targets. Not only does the business model support this green agenda, but the team also did a great job with their progress on environmental sustainability, as a founding member of EV100 and successfully achieving carbon neutrality in 2021. We wish them every success at the upcoming awards.”
