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James Neville: Embracing the EV opportunity with Roadchef and beyond

26 November 2024

“The appeal of working in infrastructure is straightforward”, says James Neville: “It’s about having a positive impact for our clients, our investee companies and their communities.” That is especially true with his role in Macquarie Asset Management (MAM), where he works alongside specialist green energy businesses developing and operating the energy systems of the future.

Since joining Macquarie Asset Management (MAM) as a graduate in 2021, James has been working across the utilities and transport sectors. Macquarie is a significant investor in transport infrastructure, helping to improve essential transport links across Britain. 

Managing key assets

In his role as an active asset manager in MAM, James is driving the development and expansion of EV charging networks, contributing to carbon emission reduction and supporting the UK and Europe’s EV ambitions.

In 2023, he played a key role as MAM took a significant minority stake in Best in Parking, an Austria-based car park operator with 209 locations across Central and Eastern Europe.

The previous year, funds managed by MAM acquired Roadchef, one of the UK’s largest motorway service area operators, comprising 30 locations across the motorway network and serving 52 million customers each year. 

“Our investment in charging infrastructure is helping drive Britain’s EV revolution for a growing number of motorists”, says James. 

Where we look to add value is through strategic business planning, investment appraisal and bigger picture opportunities for the business, working side-by-side with the Roadchef management team.” 

Embracing the EV opportunity

For both portfolio companies, the rollout of EVs presents an enormous opportunity. Best in Parking aims to increase its EV charging access points from 536 to over 1,000 across the next two years. By 2030, Roadchef expects to roll out approximately 650 fast-charging points partly powered by 9 MW of new solar energy capacity installed on-site.

“Where we add significant value is to the energy transition,” says James, noting that Macquarie “can leverage expertise and experience in EV charging from other investments within the portfolio.” He adds, “I spend a lot of time thinking about what the most attractive model of EV rollout is likely to be for each business.”

“The evolution of EVs will transform the foundation of road journeys. Developing solutions that appropriately cater to the changing needs of motorists who are increasingly shifting towards electric transport, is essential in order for businesses like Roadchef and Best in Parking to be at the forefront of their industry,” he says.

The work requires creativity, James says. 

What I do day-to-day involves coming up with ideas: how to deliver positive impact for our clients, our investee companies and their communities, or exploring new investment opportunities through a live transaction. It’s essentially about problem-solving.”

James feels the work he does in helping improve essential transport links across Britain is empowering and motivating. For instance, seeing Roadchef revamp the iconic Watford Gap Motorway Services site with new ultrafast charging facilities as a tangible step towards supporting the transition to EVs.

Looking to what’s possible

James notes that Macquarie combines significant autonomy for its team members with a collaborative approach. He adds that Macquarie values the opinions of all members of the team and gives them the ability to speak up and be entrepreneurial.

“Senior employees are extremely approachable, and they expect you to have an opinion from an early stage in your career,” he says. “I work regularly with directors with 10 or 20 years more experience than me and the expectation is that you engage with them, they value your opinion, and you work together as a team. It really is a collaborative environment.” 

As a global organisation, James believes his career opportunities within the firm are “endless”. However, Macquarie’s commitment to investing in the UK and the country’s embrace of the energy transition means his focus, for the time being, is firmly domestic: “I’m interested in staying close to these energy transition investments given the growth opportunities and our deep sector expertise and capabilities, but there is always scope to change and try something new. Even within the same team, your role can grow in a variety of different directions, offering a wide range of opportunities.”  

 

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