FMI Advises EcoFasten Solar on Sale to Esdec B.V.
RALEIGH - FMI Capital Advisors Inc. is pleased to announce the sale of EcoFasten Solar (EcoFasten), a leading manufacturer and distributor of roof-top solar racking and mounting devices, to Esdec B.V., a European solar rooftop mounting solutions provider based in the Netherlands. Esdec is majority owned by Dutch private equity firm Gilde Buy Out Partners, a €1.3 billion private equity fund. The combination of Esdec and EcoFasten creates a major solar rooftop mounting player with 5 GW installed worldwide. FMI Capital Advisors acted as the exclusive financial advisor to EcoFasten for this transaction.
“FMI spent a significant amount of time fully understanding the unique environment we face in the solar market. At the end of the day, this transaction presented and negotiated by FMI, sets up a true partnership and growth opportunity for both companies. We could not be more pleased with the outcome, or with our choice in FMI as a financial advisor, as we have navigated through the options presented for EcoFasten's long-term growth," said Brian Stearns, Founder and President of EcoFasten.
“Esdec and EcoFasten are a perfect fit. By combining these two customer-oriented forces, we are providing installers, distributors, and the market with a very compelling, diversified product offering for both pitched and flat roof projects,” said Stijn Vos, global CEO of Esdec.
The combination of EcoFasten and Esdec creates a full-service rooftop mounting provider with installer-friendly, reliable mounting solutions for any type of roof. EcoFasten’s patented rail-less racking and mounting solutions for multiple roof types have supported over 3 GW of U.S. installations, with the company projected to supply almost 500 MW in 2018. Esdec, the Netherlands’ largest mounting manufacturer with 1.9 GW of its systems installed across Europe, has seen increasing adoption of its commercial flat-roof offering, which it introduced to the U.S. market earlier this year.
About FMI Capital Advisors:
FMI Capital Advisors, a subsidiary of FMI Corporation, is the leading investment banking firm serving the construction industry. With over 700 completed M&A transactions in construction, our industry focus enables us to provide our clients with valuable insight and advice. Clients gain access to our unparalleled network of industry contacts and relationships, deep market knowledge and technical expertise, based on decades of experience.
FMI Capital Advisors Contact:
Porter Wiley
Managing Director, FMI Capital Advisors
919-785-9210