Welcomes Avenue Capital and Robus Capital as new Shareholders
1 August 2024
Amsterdam, Netherlands and Kirchdorf, Germany – Enstall, the global leader in rooftop solar mounting solutions, announced today the acquisition of Schletter Group (“Schletter”), a Germany-based provider of solar mounting systems. Financial terms of the transaction were not disclosed. Schletter’s current shareholders, Avenue Capital Group and Robus Capital will become minority shareholders in Enstall to support the company’s long-term strategic ambitions, working in close partnership with existing shareholders Blackstone and Rivean Capital.
Founded in 1968 and headquartered in Kirchdorf, Germany, Schletter is a global provider of solar mounting systems, having supplied over 55 GW of solar installations worldwide. The company’s product portfolio caters to roofs, façades, carports, and ground-mounted solar installations, including trackers and fixed-tilt systems.
The transaction represents a major step in executing on Enstall’s growth strategy, following its acquisition by Blackstone and Rivean Capital in 2022. The transaction will strengthen Enstall’s footprint in Germany and Central Europe, and establish Enstall as the one-stop-shop global solar mounting powerhouse, with a product portfolio covering both rooftop and ground-mount segments.
Stijn Vos, CEO of Enstall, said: “On behalf of the Enstall team, I would like to welcome all Schletter employees to the Enstall family. Schletter is the long-standing solar mounting champion of Germany, with a strong reputation for quality and innovation. We are looking forward to combining our expertise to achieve our shared vision of accelerating solar adoption to deliver solar, sooner.”
Florian Roos, CEO of Schletter, added: “Enstall shares our long-term commitment to sustainable solar energy for future generations. Everything we do is guided by our dedication to improving durability, safety, sustainability, and the quality of our solar mounting systems, in support of achieving a transition to green energy. The partnership with Enstall will strengthen the combined innovation capabilities, and enable us to serve our customers with a broader portfolio of products and digital solutions globally.”
Juergen Pinker, Senior Managing Director at Blackstone and Maurits Boomsma, Senior Partner at Rivean Capital, commented: “With this transformational acquisition, Enstall establishes a strong presence in Germany, Europe’s largest solar market, and expands into the attractive ground-mounted solar segment. Following Enstall’s acquisition of Sunfer in 2023, this deal demonstrates the continued strong momentum the company has in executing its growth strategy. We welcome Avenue Capital and Robus Capital as minority investors in Enstall, who have been long-standing supportive owners of Schletter.”
The transaction is expected to close in the second half of 2024 or early 2025, subject to customary closing conditions, including regulatory approvals.
J.P. Morgan is acting as financial advisor to Schletter.
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About Enstall
Enstall is a leading provider of professional rooftop solar mounting solutions for both residential and commercial PV installations. We sell our solutions across the US, Europe, and Latin America through our distribution partners and to larger EPC, integrator, and installer clients directly. The breadth of our solutions portfolio, including leading brands IronRidge, Ecofasten, PanelClaw, Esdec, BluBase, and Sunfer, makes the installer workflow the fastest, highest quality, and most economical across application types and geographies. For more information, visit https://enstall.com.
About Blackstone Energy Transition Partners
Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested approximately $22 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.
About Rivean Capital
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the DACH region, Benelux and Italy. Rivean Capital manages funds in excess of €5bn and has offices in Amsterdam, Brussels, Frankfurt, Zug, and Milan. Since its inception in 1982, Rivean Capital has supported more than 250 companies in realizing their growth ambitions. For more information, visit www.riveancapital.com.
Contacts
Enstall
Vera Vos (Corporate Communications)
vera.vos@enstall.com
+31 653 522 721
Schletter
Marc Wallowy (VP Global Marketing)
investors@schletter-group.com
+49 1761 9191 195
Blackstone
Felix Lettau (Media)
Felix.Lettau@Blackstone.com
+44 (0) 7587 020020
Rivean Capital
Maikel Wieland (Partner – Head of Investor Relations & Co-Investments)
m.wieland@riveancapital.com
+41 43 268 20 30