Conergy North America Attracts Investor to Support and Grow North American Business First Phase of Florida-based Kawa Capital Management Acquisition Complete, Further Entities to Follow
Kawa acquires Conergy subsidiaries in the United States, Canada, Singapore, and Thailand in phase one ----Strong sales pipeline for the construction of large-scale power plants leading to increased financing needs ----Kawa partner de Pass: "We are committed to the Conergy acquisitions and working towards completing the acquisition of the remaining units."
Hamburg / Miami / Denver, 29 August 2013 – Conergy Americas, the North American subsidiaries of Conergy AG, a German-headquartered, multinational solar solutions and service provider, announced today the completion of its acquisition by Florida-based asset management firm, Kawa Capital Management, Inc. (Kawa). The acquisition has been separated into two phases to expedite the process. The first phase, the acquisition of sales units in the United States, Canada, Singapore, and Thailand, has been completed ahead of schedule to secure orders and projects for investors, developers and distributors throughout North America.
"We're thrilled by the acquisition and the business opportunities that will come from partnering with Kawa," said Anthony Fotopoulos, President of Conergy Americas. "Conergy Americas is continuing to experience strong growth, and we are committed to providing our valued clients and partners with the best solar solutions in the market-place. This strong backing and extended funding from an experienced investor familiar with the North American market means we can further develop our downstream business and continue to deliver high-quality solutions and services that our North American partners can rely on."
"We want to finalize the planned transaction as early as possible."
The remaining global sales units, and the associated administrative, management and infrastructure functions of Conergy AG will continue operating in its current structure and will be acquired in the second phase of the process, targeted for completion by October 2013, subject to completion of final agreements.
"Kawa and Conergy are a perfect fit, and the acquisition enables us to create a globally unique market player. Our acquisitions of these units underscore our commitment to grow the Conergy business and provide innovative financing solutions," said Andrew de Pass, Kawa partner.
For more information about the acquisition or to request photographic material, please contact Conergy Americas at email@example.com or 888.396.6611.
About Conergy Americas
Founded in 2005, Conergy Americas supplies complete solar energy solutions from a single source to its United States and Canada partners. As a leading photovoltaic (PV) solution and service provider, Conergy offers its customers tailor made, worry-free, high-performance packages for private or commercial roofs or for multimegawatt installations. Along with supplying all the necessary components for a solar plant, Conergy Americas's complete solutions include a full range of related solar services, from architectural planning to yield insurance. Conergy Americas is a wholly owned subsidiary of Conergy AG. Conergy AG is active in more than 40 countries across five continents.
About Kawa Capital Management, Inc.
Founded in 2007, Kawa Capital Management, Inc. is an independent asset management firm based in Miami, Florida, with more than $500 million of assets under management. Kawa is dedicated to running strong, absolute long-term strategies, focusing on investment strategies that are unique and diversified, always prioritizing capital preservation. Kawa manages a multistrategy hedge fund and several special-purpose investment vehicles and has joint ventures in both the private equity real estate and private secured lending spaces.