capiton acquires stake in Solvis

capiton acquires a stake in Solvis, a sustainable heating pioneer, backing the members of the management team which remain significant shareholders in the company. Solvis is headquartered in Braunschweig, Germany. The company was founded in 1982 and retains its operations in a factory which has been inaugurated as the first zero-emission-facility in Germany in 2002.

Solvis is a developer and manufacturer of resource-saving and energy-efficient hybrid heating systems with a focus on single-family homes. Solvis has around 230 employees and will generate about €60m of revenues in 2021. The company’s product portfolio is segmented into three pillars: heat system technology, solar collectors, and control technology. Solvis’ USP lies in the simple modular extension of different energy sources, the excellent product usability for end-users and installers as well as its trusted and long-term relationships to heating installers.

The company is well-positioned to further benefit from strong secular market trends such as the increasing need to significantly reduce the carbon footprint of the residential building sector by providing energy-efficient, reliable and future-proof heating solutions.

Gabriele Münzer and Markus Kube, Managing Directors of Solvis commented: “Completing this transaction forms an exciting new chapter for Solvis. Together with capiton, we plan to continue growing our market position with our holistic approach to sustainability, creating benefits for our customers, employees and all stakeholders involved”.

capiton is targeting substantial growth for the business, both organically and through acquisitions. Fritjof Franz, Partner at capiton, adds: “We are thrilled to partner with the management team and to contribute our resources and expertise to position Solvis as a leading player in the high-growth market for eco-friendly heating solutions“.

 

Transaction summary

Financing of the transaction is provided by capiton’s current investment vehicle, capiton VI. The acquisition remains subject to approval from antitrust authorities. Sellers and buyers have agreed not to disclose the financial terms of the transaction.

capiton was advised by KPMG (Financial), Ernst & Young (Tax & Structure), CMS (Legal & Finance Legal), Roland Berger (Commercial), Concept AG (Operational), aestimamus (Management Audit) and Tauw (ESG).

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