RBI Solar buys Centrosolar's Renusol
RBI Solar, an Ohio-based maker of racking kit for PV systems, has acquired German rival Renusol from its bankrupt parent company, Centrosolar.
Earlier this year Centrosolar flagged up a potential sale of profit-making as part of its broader restructuring plan, which will see Centrosolar itself shift its focus largely to the US.
Renusol has maintained its industry presence and R&D efforts to a large degree throughout Centrosolar's troubles.
After debts and other financial issues are accounted for, the deal will net €2.6m ($3.5m) for the creditors of Centrosolar, a once-significant German module maker which never recovered from the industry downturn.
Cincinnati-based RBI Solar, the sister company of a greenhouse-construction specialist, is largely focused on the utility- and commercial-scale segment, while Renusol has historically focused on the rooftop market.
The acquisition of Cologne-based Renusol is a “decisive step in our company’s growth”, says RBI president Richard Reilly.
RBI claims to have several factories in the US and China, and the ability to produce racking systems for at least 300MW of PV capacity a year.