Flyers for EV outfit GoZero hit inboxes; 50pc margin uplift predicted
An opportunity to gain exposure to a distributor, manufacturer and assembler of zero-emissions buses and trucks on the cusp of the EV revolution with a line into government and commercial contracts.
That’s how lead adviser MA Moelis Australia is positioning electric vehicle outfit GoZero in a confidential teaser sent to interested investors and obtained by Street Talk.
Michel van Maanen, CEO of Nexport, the largest electric bus supplier to the NSW government.
The company – rebadged to GoZero Group from TrueGreen – is seeking capital partners across debt and equity to help turbocharge its growth, setting the scene for investors to cross-check punchy growth forecasts from previous pre-IPO rounds.
Moelis Australia has been appointed by GoZero to raise at least $100 million of capital. BurnVoir Corporate Finance is acting as corporate adviser.
GoZero, founded in 2020, helps public and private transport and logistics operators electrify their fleets. It’s run by former Business NSW chief executive Stephen Cartwright, who joined as managing director in August.
The sprawling company is split into three segments: mobility, designing and manufacturing electric transport and commercial vehicles for government and private companies like Woolworths and Mainfreight; a charter services unit, which provides buses to government, corporations and schools in Sydney; and manufacturing.
As well as Nexport – the largest electric bus supplier to the NSW government – GoZero owns aluminium bus body manufacturer and engineering house Gemilang and distributor of hydrogen and battery electric buses, trucks and vans Foton Mobility. It’s also branched out into consulting services.
Preparations for the capital markets trip come three months after
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