- photovoltaic services business in Germany is strongly expanded
- total assets under management now at over 400 MWp
- „Buy&Build“-strategy to establish a leading independent pan-European service provider is executed further
Klagenfurt am Wörthersee/Frankfurt am Main (10.06.2015) ENcome Energy Performance GmbH, takes over 100% of the shares of SEAG Service GmbH from Deutsche ECO AG. In the course of the takeover, business in Germany will expand strongly. The European portfolio of ENcome for the servicing of photovoltaic power plants now includes more than 400 MWp. Approx. 160 MWp of which are located in Germany, among others several construction fields of one of the biggest photovoltaic power plants in Germany with a total of approx. 50 MWp. The focus of ENcome’s service range comprises operations, maintenance and repairs of photovoltaic power plants as well as consultancy services for investors, banks and insurances. In addition to further organic growth, ENcome strengthens its position as a pan-European leading and independent photovoltaic service provider with this acquisition as well as with further planned M&A activities. “SEAG perfectly fits ENcome in its strategic and regional orientation as well as its team-oriented and technically experienced approach. Jointly, we expand our service presence in Germany and strengthen our market position through innovation” explains Robin Hirschl and Burkhard Söhngen, managing directors at ENcome Energy Performance. Thomas Große Böckmann, managing director at SEAG and future managing director at ENcome Energy Performance Deutschland GmbH adds: “The development work of the SEAG team has been fruitful. The integration into ENcome group focussing solely on Operations & Maintenance provides tailwind for our already high service standards. The SEAG team is looking forward to becoming part of ENcome group.” “The disposal of SEAG is a part of our strategic realignment and focus on the emerging PV markets. In future we will cooperate with SEAG, respectively ENcome group and appreciate the increased customer benefit as a consequence of the integration into a specialised service provider” comments Daniel Prokopy, Chief Executive Officer at Deutsche Eco AG. It was agreed not to disclose further details of the acquisition. The closing of the transaction is still subject to few conditions which will be fulfilled within the next few weeks. The deal was arranged by SolarKapital GmbH, a private-equity company focussing on the solar market, as advisor of ENcome. “The worldwide O&M market is in a state of transition. More than ever, complete independence, critical size and professionalism are key success factors for PV investors.” remarks Andreas Leimbach, Managing Partner, SolarKapital. This successful deal has benefits for both companies and their customers, further transactions will follow” explains Tobias Engelhardt also Managing Partner, SolarKapital.