Nextpower Inc. (NXT), an energy and technology company, on Monday announced a definitive agreement to acquire Zimmermann PV-Steel Group, a Germany-based solar technology provider, for up to EUR 330 million in cash and stock.
The transaction is expected to close in the second half of Nextpower's fiscal 2027.
The acquisition is expected to expand its solar product portfolio with four new product lines, including fixed-tilt systems, carports, agriPV solutions and floating PV technologies.
Following the transaction, Zimmermann is expected to contribute approximately EUR 300 million in annual revenue and EUR 45 million in adjusted EBITDA on a run-rate basis.
The company said the acquisition is expected to accelerate its international growth strategy and more than double its addressable gigawatt opportunity in Europe.
Nextpower closed trading 2.10% higher at $125.90 on the Nasdaq. In the overnight, the stock traded 0.64% lesser at $125.10.
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