NextPower said it agreed to buy Germany-based Zimmermann PV-Steel Group in a deal worth up to €330 million, or about $378 million, combining cash and stock.
The company said Zimmermann is expected to add about €300 million in annual run-rate revenue and €45 million in adjusted EBITDA after the transaction closes, which NextPower expects in the second half of fiscal 2027.
The acquisition would give NextPower four new product lines and expand its reach into 15 additional countries. NextPower said the deal would also broaden its addressable market in Europe by more than doubling its addressable gigawatt opportunity there when paired with its recent launch of the NX Gemini two-in-portrait tracker.
Zimmermann brings more than 20 gigawatts deployed and a customer base built over 2,500 solar projects across 58 countries. The company, founded in 1950 and active in solar since 2009, has a strong presence in Germany, one of Europe’s largest solar markets.
NextPower said Zimmermann’s portfolio includes fixed tilt, carports, high-density trackers, agrivoltaic solutions and floating PV. The company expects the business to operate as “Zimmermann PV, a NextPower company” after closing.
The transaction is expected to strengthen NextPower’s European footprint and add established go-to-market channels that the company said should help drive demand for its broader portfolio, including trackers, eBOS, PCS and BESS. Today the company's shares have moved -0.5% to a price of $125.275. For more information, read the company's full 8-K submission here.
