Deal Reporter
Heckert Solar could make acquisitions to expand its product portfolio and its geographical reach, Head of Marketing and Sales Michael Boenisch said.
The private German manufacturer of high power photovoltaic modules is wholly owned by the founding Trinkerl family. In 2014, it generated EUR 58m revenues with 200 employees, the executive said.
To date Heckert Solar has grown only organically, Boenisch said. He did not comments when asked about possible ongoing talks with acquisition candidates.
The characteristics of the product and the business model are important acquisitions criterias rather than the size of the target, the executive said. There is no need to go to the US to find an acquisition candidate, Boenisch answered when asked about preferred locations for a deal.
With an equity ratio of 70%, Heckert Solar is well financed to support its future growth, the executive said. IPO and new investors are not part of the company’s short-term plan, he added.
Meanwhile Heckert Solar is looking for distribution partners to enter new markets, Boenisch said. Poland, Turkey and South America are attractive expansion areas, he added. He mentioned that right now Germany is the company’s main market.
Heckert Solar is managed by the first and second generation of the Trinkerl family, the executive said. In 2013 Benjamin Trinkerl took over the management of the company. His father, the founder Xaver remained member of the Supervisory Board, according to a company’s press realease.
Heckert Solar was established in 2001 by Xaver Trinkerl in Chemnitz (Germany).
In 2014, the company increased its production capacity from 180MW to 240MW per year. Other increases are currently under evaluation, the executive said