September 26 (Renewables Now) - French renewable power producer Voltalia SA (EPA:VLTSA) has concluded the acquisition of rooftop solar and energy management specialist Helexia, it announced on Wednesday.
Voltalia has completed the purchase at a total value of EUR 56.6 million (USD 62m) by issuing some 5.45 million new shares of Voltalia SA to gain a 97.55% stake and then paying cash for the balance. The seller was Mulliez family-backed investor Creadev, which is also Voltalia’s own majority shareholder.
The takeover allows Voltalia to offer businesses a complete range of solutions, from green power supply to energy efficiency and energy management services, commented CEO Sebastien Clerc. Also, the transaction is expected to create synergies in power plant supervision and operation and maintenance (O&M).
Helexia has 241 installed or under-construction photovoltaic (PV) plants on rooftops in France, Belgium, Italy, Portugal and Spain, representing a total capacity of 67.4 MW. The firm generated over EUR 14 million in consolidated revenues in 2018, with an earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 49%.
(EUR 1.0 = USD 1.094)