RBI Solar today announced that it has signed an agreement to acquire Renusol GmbH, one of the PV industry's leading solar mounting specialists for residential and commercial projects in Europe and in the US.
Cincinnati, OH, USA and Cologne, Germany, June 3rd, 2014 - RBI Solar today announced that it has signed an agreement to acquire Renusol GmbH, one of the PV industry's leading solar mounting specialists for residential and commercial projects in Europe and in the US. Renusol is 100% owned by Centrosolar Group AG. The acquisition includes the American subsidiary Renusol America which is 100% owned by Renusol GmbH.
RBI Solar designs, engineers, manufactures and installs solar mounting systems for commercial and utility scale PV projects.
The acquisition continues RBI's strategic focus on developing high-quality robust solar structures and engineered solutions to meet market requirements and needs on both a national and an international basis.
"With Renusol we gain over 15 years of expertise in the area of residential and commercial projects. This is a decisive step in our company growth and fits perfectly with our products and service portfolio. Renusol has proven, innovative and cost-effective solutions", states RBI's President Richard Reilly.
"The combination of RBI and Renusol is a significant milestone for our company. The combination increases the resources to deliver innovative products and services in all areas, especially in the sector of ground mounting to our customers in Europe. With RBI's multiple manufacturing facilities, two in the US and one in China we are now able to offer our innovative mounting solutions outside of Europe, so this is truly a win-win deal", said Stefan Liedtke, Managing Director of Renusol GmbH.
"This is a tremendous opportunity, both companies have similar philosophies and we are incredibly energized and excited to utilize the synergies out of this merger into improving our products and services for our customers even further", said Bill Vietas, General Manager RBI Solar.