Soltech Energy acquires 100% of the facade company ESSA Glas & Aluminum AB
On December 16, Soltech Energy Sweden AB (publ) acquired 100 percent of the shares in ESSA Glas & Aluminum AB (ESSA) with access on January 1, 2022. The company has sales of approximately SEK 110 million with good profitability and has just over 30 employees based in Örebro. Going forward together with Soltech, the plan is to integrate solar energy into the product range and increase both sales and earnings. The acquisition is Soltech's second acquisition in the facade industry and will strengthen the Group's strength in this growing segment. The acquisition is financed entirely from its own cash and with newly issued Soltech shares.
Soltech has an offensive growth strategy with acquisitions in the solar, roof, facade and electrical engineering industries. Together, these companies will create synergy effects and build a strong group with cross-border expertise that can offer complete solutions. The acquisition of ESSA will be Soltech's second acquisition in the facade industry and establishes the solar energy group in the Örebro region.
– This acquisition strengthens our position in the facade industry, which is becoming an increasingly important segment in solar energy. We are also strengthening our presence in the strategically important Örebro region. ESSA Glas & Aluminum is run by skilled entrepreneurs with deep technical and industry expertise, and I would like to warmly welcome Ola, Örjan and their entire team to Soltech, says Stefan Ölander, CEO of Soltech Energy.
Investing in solar cell facades
ESSA was founded in 2012 and has since had a successful journey and is at the forefront of its industry. The business is run from the production facility outside Örebro and the company performs all types of exterior and interior glass solutions, with an emphasis on facade construction of commercial properties. When ESSA now becomes part of Soltech, it is a stated ambition to grow within solar cell facades.
– It is a great pleasure to now be a part of the Soltech Group, something that brings great opportunities for us as a company. Both in terms of new business opportunities but also in important knowledge exchange and collaboration opportunities with our new sister companies. Becoming part of a large solar energy group will help ESSA to the next level where solar energy solutions will become a great competitive advantage for us, says Ola Karlsson, CEO of ESSA Glass & Aluminum.
