Solarpack consolidates its leadership position and acquires 100% of Solaer | comp

Solarpack, the multinational company specializing in solar photovoltaic projects, has signed a share purchase agreement to acquire 100% of Solaer. The closing of the acquisition is expected to be achieved before the end of the year once the usual approvals for this type of transaction are granted. The amount of the operation has not been disclosed, but it will be fully funded with funds provided by Solarpack shareholders.

With this agreement, the Getxo-based company takes a step forward in its organic growth strategy in Spain and Italy and cements its leadership position as a global player in PV. This is the first process under the ownership of EQT. Founded in 2006, Solaer has a well-developed portfolio of projects over 2.8 GW in Spain and Italy and a team that will help Solarpack accelerate its ambitious growth plan.

“It is a transformative step for Solarpack to lead the process of consolidating the sector in Spain and strengthening our position as an important global player with the support of our shareholders,” said Pablo Burgos, CEO of Solarpack. For his part, Ignacio Arganza, CEO of Solaer, described the process as “a natural step in the life of the business to address the great opportunity in the field of renewable energy. We have chosen the right partner, with high credibility in the market, and ambition to lead the integration in this sector with the strategic alignment with Solaer “.

CaixaBank, Linklaters, KPMG and DNV served as advisors to Solarpack and Nomura and Ramón y Cajal served as advisors to Solaer.