June 18 (Renewables Now) - German photovoltaic (PV) mounting systems maker Schletter Group has concluded a financial reorganisation that brought in new owners and a double-digit-million-euro sum for investments in product development and growth.

Golden Square Capital is the new owner of the group and its investment is backed with financing provided by Avenue Capital Group. The reorganisation has been cleared by the creditors’ committee, the announcement says.

“With today’s completion of the financial reorganization, Schletter Group now has financially strong partners and we are free of legacy financial burdens,” said Tom Graf, the CEO of the Schletter Group.

The German group manufactures PV mounting systems made of aluminium and steel for roofs, facades and open areas, as well as solar carports. It has three production facilities in Germany, the US and China, along with an international network of distribution and service companies.

The group will retain all current subsidiaries and locations, including the facilities at its headquarters in Kirchdorf. Graf noted that the production site there is important because it allows the group to produce close to its clients in Europe.

Apart from that region, the group will also continue to focus on the markets in the Middle East, Africa, North America and the Asia-Pacific Economic Area (APAC).

Join Renewables Now's free daily newsletter now!

Weekly renewables M&A round-up (May 30-Jun 3)

Austria's hydrogen strategy focuses on industry decarbonisation

Enel Green to supply clean power to Cemex in Guatemala

Estonia's Sunly, Scener to offer balancing services in Poland

E.on, Deutsche Erdwaerme to partner on deep geothermal projects

Bolivia's ENDE invites bids for construction of 45 MW of wind farms

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

Renewables Now is an independent one-stop shop for business news and market intelligence for the global renewable energy industry.

Gain unlimited access to know the latest in renewable energy.