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Group Caillau-AdiWatt further expands its European solar diversification strategy with the acquisition of a majority stake in B&K Solar

The Caillau-AdiWatt Group is stepping up its growth and diversification strategy in the European solar sector by acquiring a majority stake in B&K Solar, an established provider of high-quality photovoltaic mounting systems for German and Eastern Europe markets.

B&K was founded in 2012 and specializes in versatile solutions for a wide array of roofing applications. Built on a foundation of proactive customer service, B&K provides safe, light and adaptable mounting systems produced in Gütersloh, Germany and Pęgów, Poland. These two entities employed more than 20 employees in 2023.

Commenting on the new collaboration, co-founders Patrick Behnke and Martin Kisiel said: “We are thrilled with this partnership. It’s a significant milestone for us and we are confident that we have found the right industry ally, with a strong industrial know-how, significant R&D capabilities, commercial and industrial network. Their expertise and products portfolio complements our innovative spirit and together we will reach new markets and generate significant synergies for both entities”.

The Caillau Group is a world leader in the design, manufacture and marketing of fastening and sealing systems for automotive and aerospace manufacturers industries. With a workforce of around 600, state-of-the-art production facilities in Romorantin (France), and subsidiaries in China, the USA and Brazil, the century-old Caillau Group has been developing high-tech and mission critical products for decades. The long-standing confidence of European automakers and automotive suppliers, combined with market penetration with new players, particularly from Asia, have enabled the Caillau Group to record strong growth over the last 15 years, reaching sales of c. 150 million euros in 2023.

For Stéphane Drivon, Chairman of the Group, “the acquisition of AdiWatt in 2021 marked an important step in Caillau’s growth and diversification strategy, as we gained a foothold in a forward-looking industry that leverages the Group’s industrial, technological and product know-how. While we are determined to remain a major player in the field of mobility, through our Automotive and Aerospace Business Units, this acquisition enabled the Group to create a complementary “Solar” Business Unit. Our ambition is to play a key role in the consolidation of European market in the field of high value-added fastening systems”. Post-operation, Solar business unit consolidated sales exceed 50 M€ in 2023.

AdiWatt, which has 100+ employees, is entirely dedicated to photovoltaic renewable energy, with a production plant in Fontaine Raoul (Loir-et-Cher) and a subsidiary in Spain. Specializing in steel processing, AdiWatt designs, manufactures and produces in France systems for mounting photovoltaic panels on roofs and solar fields, as well as PV carports for the world’s leading construction and energy companies.

Group Caillau-AdiWatt was advised by Lincoln International (M&A and corporate finance), Hogan Lovells (Legal), Roland Berger (Commercial and strategic) and 8Advisory (Finance and Tax). Sellers were advised by KMC Management Consultants (M&A and corporate finance).