RBI Solar has signed an agreement to buy Renusol, one of the PV industry's solar mounting specialists for residential and commercial projects in Europe and in the US.
Under the terms of the agreement, RBI Solar will acquire Renusol, which is 100% owned by Centrosolar Group.
RBI Solar will also purchase the American subsidiary Renusol America, which is 100% owned by Renusol.
RBI Solar focuses on designing, engineering, manufacturing and installing solar mounting systems for commercial and utility scale PV projects.
RBI president Richard Reilly said that the company gained more than 15 years of expertise in the area of residential and commercial projects with Renusol acquisition.
"This is a decisive step in our company growth and fits perfectly with our products and service portfolio. Renusol has proven, innovative and cost-effective solutions," Reilly said.
With the acquisition, RBI will continue to focus on developing high-quality robust solar structures and engineer solutions to meet requirements on both a national and an international basis.
Renusol managing director Stefan Liedtke said that the RBI and Renusol combination improves the resources to deliver innovative products and services in all areas, especially in the sector of ground mounting to customers in Europe.
"With RBI's multiple manufacturing facilities, two in the US and one in China we are now able to offer our innovative mounting solutions outside of Europe, so this is truly a win-win deal," Liedtke said.
RBI Solar General Manager Bill Vietas said, "This is a tremendous opportunity, both companies have similar philosophies and we are incredibly energised and excited to utilise the synergies out of this merger into improving our products and services for our customers even further."