Solar PV distributor Libra Energy has sold a majority stake in its business to the Dutch wholesaler group Rensa.
Headquartered in the Netherlands but with distribution centres in the UK, Libra Energy has focused predominantly on solar PV, a fact which tempted Rensa Group to making the deal to complement its specialism in the HVAC sector.
Erik Heijink, director of Rensa Group, said the acquisition was a “textbook example of win-win”.
“Rensa Group provides its close-knit distribution network, and Libra Energy brings knowledge of a whole new ballgame to within Rensa Group,” Heijink added.
Libra Energy and its sister companies will however continue to operate as independent companies despite the stake exchanging hands.
Paul Bradbury, UK general manager at Libra, said the deal would add to its continued diversification away from PV products.
“Although we still remain a predominantly Solar orienated company in the UK, now that we are part of the RENSA Group we look forward to building further and seeing what we and our new sister companies can achieve together in the UK,” he said.