Global rooftop solar mounting supplier Esdec continues to add to its lead, announcing the purchase of PanelClaw, the largest supplier of solar mounting systems for commercial roofs in the U.S. With PanelClaw, Esdec expands its customer base and portfolio of merchandise available to the growing commercial and industrial (C&I) solar market. The PanelClaw purchase is that the European group’s fourth in the US solar mounting market in the previous three years (recent prices include Ecofasten, IronRidge and Quick Mount) and its first acquisition in the commercial market segment.
The conditions of the PanelClaw acquisition weren’t disclosed.
“I presume due to the fact that the general tendency is costs going down, you need to combine, we’ve seen great growth and anticipate there to be more growth in the coming years. I believe it makes sense to centralize at some things in terms of knowledge, and it will not surprise me when other companies on the market find each other and match their knowledge together to make new revolutionary products to gain economies of scale. It is going to also help our total market when the end-customer sees the prices are optimized, and this enables the market to grow considerably quicker. It’s a matter of cost volume and optimization. So, I expect other producers are searching for chances to consolidate too because it will help the marketplace.”
Esdec CEO, Stijn Vos
Though he said to not expect Esdec to pursue additional acquisitions from the U.S. So, that clearly changed with this opportunity as PanelClaw matches the sole emptiness left in its portfolio.
“This acquisition represents an immediate increase in our US market share with near-zero overlap with present clients and stations. We now offer you a vast range of flat roof options in the US–from attached to ballasted, to rail-based and non-rail based–through the most suitable channels for our customers,” Vos said. To power that growth, the rooftop industry requires companies with greater capital, supply chain, procurement, and logistics”
“Esdec is the international leader in solar racking and mounting, so this really is a movement that only made sense for us. It provides us with access to R&D thickness, strong financial backing, and economies of scale that will enable us to grow and innovate, uur confidence in the growth and potential of this North American solar market is unmatched and we look forward to building that potential with Esdec.”
PanelClaw CEO, Costa Nicolaou
PanelClaw will continue to operate as an independent company with an emphasis on straight serving commercial solar developers, EPC’s and contractors using its differentiated clawFR product and clawOS software. The existing PanelClaw Management Team will last to lead the business.
