Fri, 23 Feb 2024 | BUSINESS SALE
Contact Solar, a solar panel and battery installer based in Chorley, has been acquired by electricity generator EDF. Contact Solar, which has been operating for more than a decade, specialises in domestic UK solar panels, battery storage for solar and commercial solar.
The firm has a network of local installers across the UK and, following the acquisition, will work alongside EDF to deliver residential installations, as well as projects for local authorities, developers and housing associations, involved in both building new homes and retrofitting existing residencies.
Contact Solar Director Tom Taylor said that the company had seen “exponential growth” over recent years, as a result of the “extraordinary competencies of our highly skilled workforce”.
Taylor added that the “strategic move” would not only accelerate the company’s growth, “but will also enable us to continue providing exceptional service to our customers, which has always been our top priority."
He continued: “We are excited about the limitless opportunities that lie ahead and look forward to working alongside EDF to help more customers install solar and batteries in their homes, as the country moves towards a greener future.”
The acquisition follows EDF’s 2023 takeover of heat pump installer CB Heating, as the energy supplier continues to use M&A deals to bolster its net zero home proposition. Take-up of solar panels is forecast to increase by 75 per cent by 2030, with the acquisition of Contact Solar ensuring EDF has the flexibility and capacity to more effectively meet this growing demand.
Announcing the deal, EDF Managing Director of Customers Philippe Commaret said: "We are a long-term partner to Britain and this investment marks another important step forward in our commitment to helping our customers achieve net zero.”
"We know more and more people want to save cash and carbon and by acquiring a company like Contact Solar we can help them by providing better value and a truly great end-to-end solar panel install service, utilising a company whose expertise, knowledge and service is exceptional."
Read about another recent deal in the UK solar industry:
Solar energy firm embarks on buy-and-build strategy
This UK-based EDI service provider offers industry-leading software and services, making it an ideal acquisition for companies looking to enhance their position in the FMCG market.
This business is a prominent player in the realm of RFID, asset tracking, and IoT software development, known for its consistently profitable performance and expanding gross profit margins.
This is a fantastic opportunity to acquire a technologically advanced firm with offices in Moray and Renfrewshire, offering flexibility in its sale arrangement.
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