Nasdaq-listed Nextpower has agreed to acquire Zimmermann PV-Steel Group, a Germany-based solar technology company with operations in more than 58 countries.
The proposed transaction, which values Zimmermann at up to €330m ($378m), is structured as a combination of cash and stock.
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Zimmermann, headquartered in Oberessendorf/Eberhardzell in southern Germany, was founded in 1950 and entered the solar sector in 2009.
Since then, the company is said to have delivered more than 2,500 solar projects, supplying precision-engineered solar substructures to installations totalling in excess of 20GW worldwide.
According to Nextpower, Zimmermann PV-Steel Group’s established presence in Europe, particularly in Germany, is a significant factor in the acquisition. Germany accounted for around 20% of Europe’s ground-mounted photovoltaic (PV) market in 2025, with demand focused predominantly on fixed-tilt systems.
Nextpower stated that by acquiring Zimmermann, it aims to expand its product portfolio and strengthen its position in Europe’s ground-mount solar segment.
Approximately half of Europe’s ground-mounted PV installations use fixed-tilt systems, a segment where Zimmermann holds a strong position. Nextpower said the addition of Zimmermann would provide broader support for solar developers and engineering, procurement and construction customers, covering both fixed-tilt and tracker-based ground-mount installation needs.
The acquisition will extend Nextpower’s addressable market with four new product lines and expand its reach across 15 additional countries. It will also provide access to Zimmermann’s large legacy customer base.
In addition to expanding its offerings in solar substructures, Nextpower indicated that Zimmermann’s market footprint will support the distribution of its battery energy storage system (BESS) products. Nextpower claims that BESS installations are currently growing at a compound annual growth rate of more than 20%, with significant uptake in Germany and other European markets.
The company expects Zimmermann’s established go-to-market channels to facilitate incremental demand for its product portfolio, including trackers, electrical balance of system products, power conversion systems and BESS.
Nextpower founder and CEO Dan Shugar said: “This transaction represents the next chapter for Nextpower internationally.
“With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capability in Europe and beyond. Zimmermann’s structural solutions, including fixed-tilt, carports, high-density trackers, innovative agriPV solutions and floating PV will expand our European portfolio to support a broader range of land use, permitting requirements and regional use cases.
“We see a clear opportunity to combine Zimmermann’s strong product engineering and execution capabilities with Nextpower’s bankability and complete product platform to better meet the needs of customers in Europe and accelerate profitable international growth.”
Following completion of the transaction, the Zimmermann business is expected to contribute approximately €300m in revenue and €45m of adjusted earnings before interest, taxes, depreciation and amortisation on an annual run-rate basis.
Nextpower plans to maintain the Zimmermann brand post-acquisition, operating under the title Zimmermann PV, a Nextpower Company.
Zimmermann owner and CEO Robert Zimmermann said: “Zimmermann has built its business by staying customer-focused and delivering high-quality engineered solutions for specific project needs.
“In Nextpower, we see a partner with highly complementary technologies, geographic footprint and customer focus. They bring scale and complementary solutions and capabilities that will help us serve our customers more broadly while preserving the local relationships and engineering focus that have defined our business.”
The deal remains subject to standard closing conditions including regulatory review and is expected to close in the second half of Nextpower’s 2027 fiscal year.
The agreement follows Nextpower’s recent introduction of NX Gemini, a two-in-portrait solar tracker, in the European market.
Nextpower estimates that combining NX Gemini with products such as NX Anchor could more than double its addressable gigawatt opportunity in the region.
NX Anchor is an integrated foundation system co-developed for the NX Horizon one-in-portrait tracker and tailored for Europe’s varied soil conditions. It is designed to be compatible with different soil types and enable more efficient installation.
