Nextpower to acquire Zimmermann PV Steel in $378 million transaction

US company Nextpower has announced plans to acquire German PV mounting systems supplier Zimmermann PV Steel in a transaction worth around €330 million ($378 million) in cash and stocks. The deal is subject to closing conditions and regulatory review, expected to close in fiscal 2027.

Nextpower today announced a deal to acquire Zimmermann PV Steel Group. The move is the latest in a series of deals and acquisitions from the US-headquartered company, as it moves beyond its traditional business as a supplier of PV tracker systems into segments including PV module frame manufacturing and energy storage.

Headquartered in Germany, Zimmermann has supplied mounting systems to more than 20 GW of projects and maintains a strong presence in European markets. Once the transaction is completed, it will change its name to Zimmermann PV, a Nextpower Company.

After close, Nextpower expects the acquisition to add €300 million in revenue and €45 million to its adjusted EBITDA. The deal is also set to more than double its presence in European markets, expanding its reach to an established customer base in 15 countries.

The deal also sees it add four new product lines to its portfolio – crucially including fixed-tilt systems, which are better suited than trackers to conditions in many European markets, particularly to the north of the continent. It will also allow Nextpower to supply Zimmermann’s mounting products for PV carport systems, agrivoltaics and other system types.

The move into Europe follows further efforts from Nextpower to increase it presence beyond the United States, having announced plans for a new factory in Saudi Arabia earlier this year. “This transaction represents the next chapter for Nextpower internationally,” said Dan Shugar, founder and CEO of Nextpower. “With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capability in Europe and beyond.”