KACO announces "Historic milestone" at Solar Power International 2016
Neckarsulm, Germany, 12-September, 2016 : KACO New Energy today announced that it has reached agreement end of July with the Sturm Holding out of Rhein-Main Area, Germany, to become shareholders and provide new capital to build upon KACO's recent turn-around and accelerate the company's profitable expansion in North- and Central America, Asia, and the MENA region. With the integration of the Sturm Holding, KACO new energy, GmbH adds a third shareholder with approximately evenly distributed ownership of the company. Company founder and CEO, Ralf Hofmann, will continue as the CEO. The Sturm Holding is comprised of successful entrepreneurs behind multi-billion dollar businesses that were founded in the Baden-Wurttemberg area of Germany and turned into global enterprises.
"The addition of the Sturm Holding presents a historic milestone for KACO new energy, providing us the capital to further accelerate our expansion into current and future promising solar markets across the globe." said Ralf Hofmann, KACO's founder and CEO. "When European PV solar markets slowed down, we took the necessary steps to diversify globally and strengthened our operations in North America and Asia. Both key subsidiaries have undergone recent leadership changes and have since thrived and experience profitable revenue growth", he continued. Â
Ralf Hofmann added: "We are particularly pleased that Sturm values local companies that have turned into truly global businesses. The additional management expertise, as well as access to sales and distribution channels that Sturm is bringing to our Board of Management, is truly invaluable".
Founded in 1914, KACO New Energy is one of the world's largest manufacturers of photovoltaic inverters. The company is headquartered in Neckarsulm, Germany, in a region known to be a bastion of world-leading engineering powerhouses, which include Audi, Daimler AG (Maybach, Mercedes-Benz), Porsche, and Robert Bosch GmbH.
KACO new energy, Inc.'s North American headquarters and manufacturing sites are located in San Antonio, Texas with regional employees based across the Americas. KACO new energy prides itself in a workforce that is composed of more than 20 percent US military veterans. A large portion of components for KACO are sourced from within the US.
The Sturm Holding, Germany owns some of the most successful businesses in central Germany, most notably ebm-papst, the world's leading manufacturer of fan cooling and air movement products. The Group has multi-billion dollar operations across the globe and employs more than 12,500 people world-wide.
KACO new energy, Inc. is a proud sponsor of Solar Power International and will showcase the Ultraverter and its full portfolio of products at the Las Vegas Convention Center, September 13-15. (Booth #1345)