Esdec Acquires Rooftop Solar Techniques Provider
Esdec, a global provider of solar mounting solutions for roofs, has acquired PanelClaw, a provider of solar mounting systems for commercial roofs in the United States
With the acquisition of PanelClaw, Esdec expands its customer base and product portfolio for the growing commercial and industrial solar market (C&I). The PanelClaw acquisition is the European Group’s fourth acquisition in the US solar assembly market in the past three years and the first in the commercial market segment. Today the combined group has annual sales of over $ 300 million and employs over 250 people worldwide.
The terms of the PanelClaw acquisition were not disclosed.
“Esdec is a global provider of solar mounts and shelving. This is a move that only made sense to us, ”says Costa Nicolaou, CEO of PanelClaw. “It gives us access to R&D depth, strong financial support and economies of scale that allow us to grow and innovate. Our confidence in the growth and potential of the North American solar market is unparalleled and we look forward to building that future with Esdec. “
PanelClaw will continue to operate as an independent company and focus on serving commercial solar developers, EPCs and installers directly with its differentiated clawFR product and clawOS software. PanelClaw’s current management team will continue to lead the business. PanelClaw will also retain its independent brand name while becoming an Esdec company.
Photo: PanelClaws landing page