ENcome Continues “Buy&Build”-Strategy And Acquires abakus solar
- Published: Friday, 01 July 2016 10:15
ENcome Energy Performance GmbH announces the acquisition of abakus solar, headquartered in Gelsenkirchen. In the course of the takeover, ENcome`s O&M business in the UK and Germany will expand strongly.
The European portfolio of ENcome for the servicing of photovoltaic power plants now includes approx. 800MWp, thereof approx. 300 MWp in the UK and 250 MWp in Germany. With this acquisition, ENcome becomes the leading independent PV service provider (ISP) in Europe. The focus of ENcome’s service range comprises Operations & Maintenance as well as Engineering services for PV power plants. Alongside organic growth, ENcome plans for further acquisitions via „Buy&Build“-Strategy.
„With abakus solar we have found a company that perfectly fits ENcome in its business model, innovative capacity and its highly motivated and qualified personnel. Together, we want to increase our European presence and provide high service quality and value add in order to maximise the benefit of our customers“, explain Dr. Robin Hirschl und Burkhard Söhngen, both managing directors of ENcome Energy Performance GmbH.
Roland Wigger, CEO of abakus solar adds: „We look forward to the integration into ENcome. Here we can continue our successful activities in the areas of Engineering services and O&M to the benefit of our customers and employees.“
abakus solar looks back to more than 20 years’ experience in PV wholesale business, project development, EPC and O&M of PV power plants. Following the sharp decline in new builds of PV power plants as a consequence of changes in the regulatory environment abakus solar had aligned its business model and focussed on Engineering services and O&M of PV power plants. The restructuring was complemented by a structured insolvency process, in the course of which ENcome had acquired the German operations of abakus solar as well as 100% of the shares in abakus solar Manchester Ltd. from the insolvency trustee, Dr. Christoph Niering.
„Due to the professionalism of all involved parties the transaction could be secured within a short period of time, thereby safeguarding nearly all jobs at abakus solar“, comments Dr. Christoph Niering.
German operations of abakus solar have already been transferred into the NewCo abakus Engineering GmbH, seated in Gelsenkirchen. It has been agreed not to disclose further details of the acquisition. The validity of the transaction is still subject to few conditions, which will be fulfilled within the next weeks.
The deal was arranged by SolarKapital GmbH, a private-equity company focusing on the solar market, as advisor of ENcome.
The ENcome group is a pan-European leading and independent provider for the operation of photovoltaic power plants with focus on technical Operation and Maintenance (O&M), technical Asset Management (TAM) and the compilation of technical expertise. At present ENcome operates power plants with a nominal capacity of several hundred megawatts in different countries. Well skilled engineers ensure the best yield for every renewable energy park in any grid environment. Furthermore ENcome offers other services along the asset lifecycle of photovoltaic installations partnering amongst others with renown law firms, tax advisers and security centres.