Nextpower has agreed to acquire Zimmermann PV-Steel Group, a German manufacturer of solar substructures, in a deal announced at Intersolar Europe that extends Nextpower's product range into fixed tilt, carports, agriPV and floating PV. The transaction brings more than 20 GW of deployed Zimmermann projects into the Nextpower portfolio, along with an established presence across 58 countries. Total consideration for the deal, in cash and stock, comes to up to €330 million.
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Zimmermann, founded in 1950 and active in solar substructures since 2009, has delivered more than 2,500 projects and built a particularly deep footprint in Germany, one of Europe's largest solar markets. Fixed tilt alone accounts for roughly half of Europe's utility-scale PV market today, according to S&P Global, with especially strong penetration in Germany, France and Poland, a segment where Nextpower previously had limited reach.
Significant expansion
Dan Shugar, founder and CEO of Nextpower: "With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capability in Europe and beyond." Shugar also pointed to Zimmermann's structural range, including high-density trackers and agriPV solutions, as filling gaps in Nextpower's ability to support varied land-use and permitting requirements across the region.
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Combined with Nextpower's recent European launch of the NX Gemini two-in-portrait tracker, the acquisition is expected to more than double the company's addressable gigawatt opportunity in Europe. Post-closing, the business will operate as "Zimmermann PV, a Nextpower Company," retaining its branding and regional relationships while drawing on Nextpower's broader manufacturing and distribution footprint. (TF)
