Nextpower enters into $378m deal to acquire Zimmermann PV-Steel Group

Nasdaq-listed Nextpower has agreed to buy Zimmermann PV-Steel Group, a German-based solar technology company with operations in more than 58 countries.

The proposed transaction, which values ​​Zimmermann at up to €330m ($378m), is structured as a combination of cash and stock.

Zimmermann, headquartered in Oberessendorf/Eberhardzell in southern Germany, was founded in 1950 and entered the solar sector in 2009.

Since then, the company is said to have delivered more than 2,500 solar projects, providing precision-engineered solar installations to more than 20GW installations worldwide.

According to Nextpower, the established presence of Zimmermann PV-Steel Group in Europe, especially in Germany, is an important factor in the acquisition. Germany accounts for around 20% of the European photovoltaic (PV) market set for 2025, and demand is concentrated in tilted systems.

Nextpower said that by acquiring Zimmermann, it aims to expand its product portfolio and strengthen its position in the European solar sector.

About half of Europe’s ground-mounted PV installations use fixed-tilt systems, a segment in which Zimmermann holds a strong position. Nextpower said the addition of Zimmermann will provide comprehensive support for solar developers and engineering, procurement and construction customers, including both fixed-mount and tracker-based installation needs.

The acquisition will expand Nextpower’s addressable market with four new product lines and expand its reach to 15 additional countries. It will also provide access to Zimmermann’s large legacy customer base.

In addition to expanding its offerings in solar buildings, Nextpower indicated that the Zimmermann marketplace will support the distribution of its battery energy storage system (BESS) products. Nextpower says BESS installations are currently growing at a compound annual growth rate of more than 20%, with significant acquisitions in Germany and other European markets.

The company expects Zimmermann’s established go-to-market channels to drive growing demand for its product portfolio, which includes trackers, power balance of system products, power conversion systems and BESS.

Nextpower founder and CEO Dan Shugar said: “This transaction represents the next chapter for Nextpower globally.

“With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capabilities in Europe and beyond. Zimmermann’s building solutions, including fixed-tilt, carports, multi-occupancy trackers, innovative agriPV solutions and floating PV will expand our European portfolio to support a wide range of land use needs, land use cases.

“We see a clear opportunity to combine Zimmermann’s strong product engineering and banking capabilities with Nextpower’s comprehensive product platform to better meet the needs of European customers and accelerate profitable growth internationally.”

Following completion of the transaction, the Zimmermann business is expected to contribute approximately 300 million euros in revenue and 45 million euros in adjusted earnings before interest, taxes, depreciation and amortization on an annual operating basis.

Nextpower plans to retain the Zimmermann brand after the acquisition, operating under the title Zimmermann PV, a Nextpower Company.

Zimmermann owner and CEO Robert Zimmermann said: “Zimmermann has built its business by always being customer focused and delivering quality engineered solutions for specific project needs.

“In Nextpower, we see a partner with the most complementary technology, location and customer focus. They bring complementary solutions and capabilities that will help us serve our customers more broadly while maintaining the local relationships and engineering focus that has defined our business.”

The deal remains subject to customary closing conditions including regulatory review and is expected to close in the second half of Nextpower’s 2027 fiscal year.

The deal follows Nextpower’s recent launch of the NX Gemini, a dual-image solar tracker, on the European market.

Nextpower estimates that combining the NX Gemini with products like the NX Anchor could double its serviceable gigawatt opportunity in the region.

The NX Anchor is an integrated base system developed in conjunction with the NX Horizon with an in-portrait tracker and optimized for various European soil conditions. It is designed to be compatible with different soil types and enables efficient installation.

“Nextpower enters $378m deal to acquire Zimmermann PV-Steel Group” was originally published by Power Technology, a product owned by GlobalData.

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