Reading-based solar firm Photon Energy has acquired the assets of industry stalwart Sundog Energy.
Sundog, founded in 1995 by renowned industry expert Martin Cotterell, entered voluntary liquidation earlier this month after Cotterell left the firm to take up a position at the UK-facing arm of storage giant Tesla Energy.
Photon has acquired the Sundog Energy trading name, its assets and O&M services with immediate effect, and the business is to be relocated from Cumbria to Lancaster.
The company is now looking to fill key positions within the relocated business, including a business development manager and a number of contract installers.
Jonathan Bates, director and general manager at Photon Energy, said he was delighted to make the deal which will strengthen its retrofit and O&M businesses.
“Sundog have an incredible track record stretching back over 20 years and have installed some very high profile projects in that time, including the iconic PV installation at Kings Cross station.
“Although Sundog has continued to trade strongly, given the adverse conditions facing the sector, its directors have taken the decision that it is time to move on,” Bates said.
And Bates did not rule out further acquisitions as Photon looks to cement its position in the UK market.
“We are confident of continuing our growth in our market and are looking for expansion in the north of England and Scotland in particular,” he added.
With the UK solar sector widely expected to contract amidst government-enforced subsidy cuts and deployment caps, many have expected consolidation and mergers & acquisition activity to heighten as installers look to leave the market.
Late last year Caplor Energy was one of the first to take advantage of this, strengthening its services by acquiring the assets of failed installation firm Southern Solar.