Renewable Energy Group Shows Ambition when it Comes to French Solar Assets

Green Services Group, a European independent service provider of technical services dedicated to renewable energy sources, has announced the acquisition of KBE Energy. By achieving its first acquisition of a leading player in the French solar energy market, Green Services Group has sent out a clear signal as to its ambitions for solar asset maintenance in France.

KBE Energy, created in 2006, is a long-standing player in the solar asset design, construction and maintenance market. The company alone boasts a maintenance portfolio of over 18 MWp. This acquisition strengthens Green Services Group's activity in the solar energy market.

Green Services Group reinforces its foothold in France and acquires new expertise in solar asset maintenance

The acquisition became effective in January 2014 and has given the Group KBE Energy's expertise in technical due diligence and production calculations, while enabling the Group to deliver superior service to customers requiring skills in solar asset maintenance. Green Services Group is increasing its nationwide presence, since KBE Energy has three offices (in Grenoble, the Aveyron region and Nîmes), providing coverage of 18 regions in the south of France.

This takeover opens up new doors for KBE Energy's business

With the backing of Green Services Group, KBE Energy has now a solid support to develop its solar asset maintenance activities with enhanced professionalism through Green Services Group's services offer. The company's long-standing shareholders will remain minority shareholders, and Green Services Group will retain all of the current workforce.

"We are delighted with Green Services Group's takeover, since we share the same ambition of developing our business in Europe. Furthermore, Green Services Group has given us a gateway to financial investors that were previously out of our reach. Green Services Group today manages all of our administrative activity. As such, we can fully focus on our core business," confides Jean-Marc Gadeau, CEO of KBE Solaire.

"For our first acquisition in the French market, we are delighted to have been able to join forces with KBE Energy and its outstanding reputation in the French solar sector. We immediately realised the synergies that we could create with the company. Tevali Energy introduced us to the opportunity and provided support throughout the transaction. At the moment, we are on the lookout for other acquisition opportunities targeting companies offering synergies with our own activities," explains Guy Auger, CEO of Green Services Group.

Bolstered by their joint expertise, the acquisition heralds a landmark in both companies' development. As part of this new driving force, they will be combining their sales and communication actions to take part together in the Intersolar Europe exhibition from 4 to 6 June in Munich.

This external growth stage is part of Green Services Group's global strategy of ramping up its development in the European market.