Dresden-based SOLARWATT announced that it has secured core areas of the insolvent Centrosolar Group, and the acquisition will take effect from 1 July. The deal not only represents that Centrosolar subsidiaries in Benelux and France will be taken over by Solarwatt, but also means that all Centrosolar's international and European brand rights will be ceded to Solarwatt.
Detlef Neuhaus, managing director of Solarwatt GmbH, described this addition as "a great growth opportunity": "This takeover will give the expansion of our European sales a real boost. The staff we are taking over from Centrosolar will now enable Solarwatt to expand its market position even further. It gives us the opportunity to make our innovative systems better known in Europe."
Solarwatt offers products with a "Made in Germany" brand. It develops intelligent and innovative solar power solutions. By acquiring Centrosolar, Solarwatt will be able to go back on the right track following its restructuring: the solar modules and intelligent end-to-end solutions in premium quality set standards in the industry and the company is currently working at full production capacity.
Finance director Carsten Bovenschen looked to the future with confidence: "We are now completely restructured and fully funded, with a healthy shareholder structure," said the CFO.
"Although the market is contracting, we have quadrupled our year-on-year revenue in the past twelve months. We have now increased our market share in systems for household use and smaller commercial installations to over ten per cent; and we are working on more innovative products and systems to get Solarwatt moving even faster. This acquisition puts our business model on an international footing and substantially reduces our dependence on the German PV market", added the CFO.