IBC SOLAR agrees buyout of Swiss PV wholesaler

German photovoltaics (PV) contractor IBC SOLAR has sealed an agreement to acquire full ownership of one of its long-term partners, Swiss PV wholesaler Fankhauser Solar AG.

IBC SOLAR first invested in the targeted company in 2021, taking a minority stake in the business in a drive to get better access to the Swiss market. The remaining shareholding will now be acquired from Robert Fischer Holding AG.

The buyout, the value of which was not disclosed, is set to take effect on January 1, 2024.

Upon completion, the acquired company, which was founded in 2007, will continue to operate under its current name. It will also preserve its partnership with electrical appliance wholesaler Otto Fischer AG, a subsidiary of Robert Fischer.

“The last two years have been more than turbulent for the PV industry. By joining forces, we have been able to master the challenges [and] together we have a lot of plans for the growing Swiss market,” said Julius Moehrstedt, head of sales for Central Europe at IBC SOLAR.

Choose your newsletter by Renewables Now. Join for free!