Enstall expands into Germany with the acquisition of Schletter

AMSTERDAM, NETHERLANDS and KIRCHDORF, GERMANY - EQS Newswire - 1 August 2024 - Enstall, the global leader in rooftop solar mounting solutions, announced today the acquisition of Schletter Group ("Schletter"), a Germany-based provider of solar mounting systems. Financial terms of the transaction were not disclosed. Schletter's current shareholders, Avenue Capital Group and Robus Capital will become minority shareholders in Enstall to support the company's long-term strategic ambitions, working in close partnership with existing shareholders Blackstone and Rivean Capital.

Founded in 1968 and headquartered in Kirchdorf, Germany, Schletter is a global provider of solar mounting systems, having supplied over 55 GWp of solar installations worldwide. The company's product portfolio caters to roofs, façades, carports, and ground-mounted solar installations, including trackers and fixed-tilt systems.

The transaction represents a major step in executing on Enstall's growth strategy, following its acquisition by Blackstone and Rivean Capital in 2022. The transaction will strengthen Enstall's footprint in Germany and Central Europe, and establish Enstall as the one-stop-shop global solar mounting powerhouse, with a product portfolio covering both rooftop and ground-mount segments.

Stijn Vos, CEO of Enstall, said: "On behalf of the Enstall team, I would like to welcome all Schletter employees to the Enstall family. Schletter is the long-standing solar mounting champion of Germany, with a strong reputation for quality and innovation. We are looking forward to combining our expertise to achieve our shared vision of accelerating solar adoption to deliver solar, sooner."

Florian Roos, CEO of Schletter, added: "Enstall shares our long-term commitment to sustainable solar energy for future generations. Everything we do is guided by our dedication to improving durability, safety, sustainability, and the quality of our solar mounting systems, in support of achieving a transition to green energy. The partnership with Enstall will strengthen the combined innovation capabilities, and enable us to serve our customers with a broader portfolio of products and digital solutions globally."

Juergen Pinker, Senior Managing Director at Blackstone and Maurits Boomsma, Senior Partner at Rivean Capital, commented: "With this transformational acquisition, Enstall establishes a strong presence in Germany, Europe's largest solar market, and expands into the attractive ground-mounted solar segment. Following Enstall's acquisition of Sunfer in 2023, this deal demonstrates the continued strong momentum the company has in executing its growth strategy. We welcome Avenue Capital and Robus Capital as minority investors in Enstall, who have been long-standing supportive owners of Schletter."

The transaction is expected to close in the second half of 2024, subject to customary regulatory approvals.

J.P. Morgan is acting as financial advisor to Schletter.

Hashtag: #SchletterInternationalB.V.

The issuer is solely responsible for the content of this announcement.