WARWICKSHIRE green energy consultancy Encraft has sold its solar photovoltaic trading division Encraft Technology Products to German firm Soleg Group in a deal worth around £2.5m.
Soleg, headquartered in Teisnach, will take over the staff, assets and operations of Leamington Spa-based ETP and rename the operation Soleg UK.
ETP was established as an independent subsidiary of Encraft in 2009 and will transfer across four employees.
Soleg is an independent distributor of solar photovoltaic, solar thermal and biomass technologies with offices in Italy, the Czech Republic, Austria, Slovenia and Greece.
The company was founded in 1994 and has grown to sales in excess of £112m a year.
The merger will be officially launched today at the Solar Power UK conference in Birmingham by Matthew Rhodes and Bernhard Seiler, managing directors of Encraft and Soleg Group respectively.
Mr Rhodes said: “We are delighted to have formed this partnership with Soleg to take our trading business forward in the rapidly developing UK market.
“The new business of Soleg UK will sit alongside our ongoing Encraft consulting engineering business, which will continue to provide independent technical expertise in micro-generation and energy efficiency for buildings at the leading edge of the UK market.”
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