With the acquisition, the Green & Durable Group once again underscores its growth ambitions in its pioneering role in sustainable energy solutions. Marktlink assisted Solar Market Group in the acquisition.
Solar Market Group, headquartered in Almere and with a showroom in Erp, was founded in 2010. The company employs approximately 90 people. In recent years, it has grown into a national player in the sale and installation of solar panels for individuals. It now carries out 5,000 installations per year. Solar Market Group also has a label for business-to-business, and two webshops in the field of solar panels and charging stations. The company has approximately 30,000 customers and a turnover of 50 million euros.
Green & Durable Group, a pioneer in sustainable energy solutions, is now the market leader in Belgium and confirms its confidence in the Dutch market for solar energy products with this new participation. The group has been part of Hasco Invest since an acquisition in 2021, which was also assisted by Marktlink. Hasco Invest wants to use the platform as part of a buy-and-build strategy to become a strong player throughout the sustainable energy chain. With the acquisition, a top 3 player in the Benelux is created. In addition to the acquisition of Solar Market Group, AgroNRG (Ootmarsum) and Energreen (Waver BE) were also recently acquired.
"Green & Durable Group strongly believes in the necessity of the energy transition. We are convinced of the opportunities that these developments offer and are eager to extend a hand to talented entrepreneurs to shape the new energy future together. Our previous participation in Agro-NRG and this one in Solar Market complement each other perfectly in the Dutch market. We want to make Solar Market a platform company for the installation of solar panels and charging stations, and we continue to seek new collaborations in the Netherlands," said Gerben Wolf, director of Green & Durable Group Netherlands.
"Through the collaboration with Green & Durable Group, Solar Market can further develop in the energy transition, which is essential for our society. Thanks to this partnership, we can specialize more in offering total solutions for the renewable energy issue. Thanks to the investment and the extensive network of Green & Durable Group, we can respond even faster and more qualitatively to customer needs, thus continuing our growth," declare Siebe Evers and Remko de Wit, co-founders and shareholders of Solar Market.
Challenging Merger
The search for a buyer began in early spring 2022, and by the start of summer, there was already a letter of intent. "A consolidation wave has been initiated across the entire energy sector, and it will continue in the coming time," said Jeffrey Scholtens from Marktlink. "The market is in a maturity phase, and many international parties are looking for a good investment in sustainable energy in the Dutch market. For this process, we have had, in addition to many national buyers, also several international buyers at the table, from Belgium, Germany, Scandinavia, and Great Britain, among others. This is a clear sign that the Dutch sustainability landscape is very attractive to international buyers. The solar energy sector offers a lot of perspective, and therefore banks are willing to provide financing for it. Acquisitions are motivated by strategic reasons: strengthening your purchasing position in the chain, both in products and labor. But also strengthening your market position by offering multiple services through diversification and geographical spread, thereby expanding your customer base."
