US investors acquire Solvis

Solar pioneer Solvis is being acquired by US investors (Photo: Solvis)
Solar pioneer Solvis is being acquired by US investors (Photo: Solvis)

The German solar pioneer Solvis has filed for bankruptcy. Insolvency proceedings were initiated on 30 October. However, an investor from the United States has already been found who will take over the company.

Insolvency proceedings were initiated against the assets of Solvis GmbH & Co. KG on 30.10.2015. The creditors' committee has approved the sale of the company to Andlinger. "I am very happy that we have managed to ensure a seamless transition of business operations and to preserve all jobs at the Braunschweig location," said Peter Steuerwald, the lawyer appointed to be the insolvency administrator.

Andlinger's involvment means that the pioneering solar company Solvis will now have the necessary resources for future growth. The new company is financed entirely by equity and is free of debt. "Our capital investment together with the know-how and the innovative strength of the Solvis team provides a solid basis for further development of the company and its product range," said Andlinger partner Gerhard Unterganschnigg in a press release. "In our view, Solvis is a trend-setter for innovative, sustainable heating systems, and we would like to explicitly pay tribute to the role that the company has played together with its reliable installation partners and customers over the past 25 years."

Solvis will remain under existing management

All employees are to be retained at Solvis GmbH. The previous managing directors Stefan Lindig and Markus Kube will retain their roles at Solvis. They emphasise that Solvis will continue to be a reliable partner for installation technicians: "Our long-term installation partners and their customers are very important to us. ... For this reason, we will continue to honour existing valid agreements regarding guarantee and warranty cases." This assurance applies expressly to all pending guarantee and warranty cases that have not yet been completed.

The new owner Andlinger & Company describes its investment strategy on its own website: "We have no maximum holding period, our financial commitment is open ended."

Volker Buddensiek

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