M+W Group acquires True Value Solar
As part of its strategy to develop its global solar business, M+W Group has acquired Australia’s largest solar company, True Value Solar (TVS). Germany-based M+W Group acquired 65% of TVS shares in 2011; recently, it secured the remaining 35% of TVS shares.
“M+W Group has been with us for two years now,” said Bob Matthews, TVS’s Chief Operations Officer. “They bring over 10 years’ experience in solar technology and an ideal foundation for market development. Needless to say, True Value Solar is very excited about our future and the future of the solar industry.”
With more than 60,000 residential installs completed, TVS says the acquisition means it can now concentrate on strategies to rapidly increase that number. “Australia is a country where solar production and consumption profiles match excellently to further develop the residential and commercial market,” said Jürgen Wild, Chief Executive Officer of M+W Group.
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