Blackstone Energy Partners and Blackstone private equity (Blackstone) are to make a significant strategic investment in Esdec Solar Group BV (Esdec), a global specialist in rooftop solar mounting systems.
Esdec was acquired by Rivean Capital (Rivean) and its management team in 2018 who have since transformed the business from a small innovative Benelux operation with just over €30 million in sales to a global organisation with close to €500 million in sales across three continents.
Blackstone brings deep experience in the renewable energy sector and additional support and resources to help deliver on Esdec’s ambitious plans. The backing of two leading European and US investors will enable a further acceleration of Esdec’s growth.
Completion of the transaction is expected to take place before the end of this year following satisfaction of certain closing conditions, including approval from the relevant competition authorities.