SolarMax confirms buyer

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Swiss inverter and monitoring system provider SolarMax – a subsidiary of Sputnik Engineering – this afternoon (Friday) confirmed an investor has purchased the company and will bring to an end insolvency proceedings started in December.

A brief press statement said the new SolarMax 2.0 would begin trading next month and would include a service hotline and repair service, adding a new SolarMax product or solution would be unveiled at the InterSolar 2015 exhibition to be held in Munich from June 10-12.

The statement did not name the white knight investor although pv magazine reported in March that the company had lined up a savior from a ‘German-speaking country’ and, with the deal then reported to include a new repair service centre in Germany, it seems likely the new owner is German.

No details were revealed about whether the agreement included acquisition of SolarMax’s property holdings, a sticking point in March that insolvency practitioners in the Swiss city of Biel said would require a separate investor.