Sonepar has entered into separate agreements to acquire the Austrian and Belgian businesses of Solar A/S, respectively named GFI GmbH and Claessen ELGB NV, with closing expected to take place in the second quarter of 2018, according to a Sonepar press release. Finalization of the Austrian transaction is subject to approval from the Austrian competition authorities.
“The acquisition of solar businesses in Austria and Belgium is a very important step for Sonepar,” Sonepar CEO Philippe Delpech said in a release. “The already best-in-class Sonepar operations in Austria and Belgium will be significantly strengthened by the addition of solar businesses. That will help Sonepar to serve customers in both countries with better proximity and skills. I take the opportunity to welcome Solar Austria and Belgium associates into the Sonepar family.”