DLL acquires 20% of Inquieto in a clear commitment to sustainable mobility

DLL, a wholly-owned subsidiary of Rabobank, advances its commitment in the last-mile delivery zero-emission vehicle sector with Inquieto, a GAM Group member.

This operation enables Inquieto to reinforce its expansion efforts and undertake new projects to optimise sustainable mobility.

Granda (Asturias), 6 July 2022 – Inquieto Moving Attitude, a company of the Spanish multinational GAM (BME: GALQ), specialising in solutions for the sustainable mobility industry, today signed a 20% equity stake investment deal with DLL, a global asset finance company and Rabobank subsidiary.

DLL’s investment continues its support of energy transition to net zero through one of the leading players in the last mile distribution zero-emission vehicles sector in Spain and Portugal.

The investment will help Inquieto to continue its expansion in Iberia and continue developing the market through solutions to optimise last-mile deliveries in an increasingly sustainable and efficient manner.

Pedro Luis Fernández, President and CEO of GAM and Inquieto, says, "This is great news for us and, I dare say, also for the present and future of the increasingly common and necessary zero-emission last-mile deliveries. Having a partner like DLL focused on sustainability contributes much more than just new capital, it is a luxury."

“Inquieto is developing a promising future as it relates to energy transition. They are ahead of the game in the last mile delivery sector and we intend to help them stay there while simultaneously learning about this huge growth market,” stated Neal Garnett, President of DLL’s Construction, Transportation and Industrial Global Business Unit.

Inquieto operates in Spain and Portugal and covers five verticals: food, supermarkets, parcel delivery, public services and pharma. Different vehicles are utilized according to the type of service and cargo, which circulate among traffic and are able access delivery locations more easily than conventional vehicles. The Inquieto fleet can deliver 20% more packages, optimising the time and resources of logistics companies. These electric vehicles are a more economical, more dynamic and environmentally-friendly form of distribution that enables the company to adapt to the needs of each sector.

There are currently more than 1,500 Inquieto vehicles on the streets of Spain and Portugal, with current customers including Closer, Seur, Getir, Uber Eats, GLS, Mahou, San Miguel and Aravinc, and various city councils.

About Inquieto Moving Attitude
Founded in September 2020 as a leading company in sustainable transport using zero-emission vehicles in the so-called last mile, Inquieto aspires to drive change in the mobility model to return urban space to citizens, reduce emissions and vehicle numbers and avoid the collapse of traffic.

Throughout 2021, it has been consolidating and gaining the trust of customers who seek to turn their business towards environmentally responsible mobility alternatives through light, versatile and smaller vehicles. In 2022, it currently has more than 1,500 vehicles in the Iberian market that offer service to leading companies such as Closer, Seur, Getir, Gorillas, Uber Eats, GLS, Mahou, San Miguel and Aravinc.

About GAM
GAM is a listed Spanish multinational company (BME: GALQ). It was created in 2003 in Asturias and specializes in solutions for the industry, including rental, sale of components and spare parts, maintenance, training, events, temporary supply of energy, air conditioning, and modular spaces, amongst others.

It operates in 10 countries and has 74 branch offices. As of June 2022, GAM has a workforce comprised of 1,200 people.