Letter of Intent signed
Cologne, Germany, January 25, 2017 – Renusol GmbH, a subsidiary of Gibraltar Industries, Inc., and PARI Group agreed on a Letter of Intent under which the PARI Group acquires substantially all the assets of Renusol GmbH. The PARI Group intends to continue to serve Renusol GmbH’s customers in Europe, Middle East and Africa. Renusol America, Inc. will continue to serve the Americas and Rest of World as part of Gibraltar Industries.
Press photos are available at: http://www.renusol.com/en/service/news-press/press-release/article/406-pari-group-to-take-over-renusol-solar-mounting-systems-business-in-europe.html
PARI Group is a group of companies focusing on energy saving and renewable energy businesses. Among others it is operating Sonnenstromfabrik, Wismar, one of Europe’s largest solar module producers. PARI Group also intends to take over a part of Renusol’s staff in Cologne. PARI Group will also retain the product offering and the brand name “Renusol”. “We are planning to keep all customers and suppliers of Renusol on board. And, most important, we will build on Renusol’s great culture and service orientation,” says Alexander Kirsch, Partner of the PARI Group, who had already been Chairman of the Advisory Board of Renusol from 2004 to 2014.
In early December 2016, Gibraltar Industries, Inc. announced its exit from the Renusol GmbH business selling residential solar mounting systems in Europe. It is intended to close the transaction within the next four weeks.
About Renusol
Since its foundation in 1997, Renusol GmbH develops economically optimized assembly solutions for the photovoltaic industry. Renusol GmbH is part of Gibraltar Industries’ Renewable Energy & Conservation segment – a leading provider of solar mounting systems.
www.renusol.com
About the PARI Group
The PARI Group is made up of independent companies which are partially or sometimes fully owned by the family of Guido Krass. All companies together have about 3,000 employees operating globally in growing markets and sharing the same vision: Renewable energy technologies and energy efficiency should make the world cleaner.
