Esdec Solar Group Announced Investment from Blackstone 

Esdec Solar Group B.V. (“Esdec” or the “Company”) is pleased to announce that an agreement has been reached to strengthen its shareholder base with a sizable strategic investment from funds managed by Blackstone Energy Partners and Blackstone private equity (“Blackstone”). Esdec is the world leader in rooftop solar mounting systems. 
 
Esdec creates and offers premium rooftop solar mounting systems and solutions. In 2018, Rivean Capital (“Rivean“) and the management team purchased the company. Since then, they have worked together to transform it from a small, innovative Benelux gem with just over €30 million in sales to the world’s leading company in its field with close to €500 million in sales across three continents. 
 
Esdec has experienced tremendous organic growth in the face of an accelerated energy shift and a reputation for providing cutting-edge, best-in-class solutions. Additionally, the business has successfully acquired and integrated six add-on acquisitions in the US and Europe as part of its expansion strategy.

Blackstone

With its current size and organized structure, six locations throughout the world employing c. Esdec, which has 400 FTE overall and a reputation for dependability and bankability, is the preferred option for installers, developers, and distribution partners. The Company is in a good position to take advantage of lucrative potential for organic market development and consolidation in the years to come, contributing to the acceleration of the energy revolution. 
 
The current shareholders have agreed to give Blackstone a sizeable strategic position in order to assist management in Esdec’s upcoming growth phase. To help execute Esdec’s ambitious ambitions, Blackstone contributes extensive experience in the field of renewable energy as well as extra assistance and resources. The support of two influential US and European investors will allow Esdec’s growth to be further accelerated. 
 
Esdec’s CEO, Stijn Vos, said: “I am delighted to announce this significant step in the Company’s expansion strategy on behalf of the management board. This combines the best of both worlds for Esdec. We can keep working together successfully with Rivean, who has been a crucial ally as we’ve grown our company over the last five years.