The Travis Perkins Group has acquired renewable energy distribution specialist, Solfex Energy Systems for an initial consideration of £8m.
Established in 2006 by Stuart and Susan Cooper, today Solfex employs 15 staff and operates as an integrator of renewable energy systems, using its distribution platform to integrate and supply components to the UK's renewable companies.
Solfex prides itself on providing a value-added service to customers through comprehensive technical and customer support. In September 2011, it secured equity investment from Panoramic Growth Equity, a leading equity investor in fast growing, entrepreneurial companies.
The company has generated a cumulative annual revenue growth rate of 179% over the past three years. In December 2012, it was listed as the UK's fifth fastest growing private company in the Sunday Times Virgin Fast Track 100. In its last financial year, Solfex achieved revenues of £21.9m and an operating profit of £2.2m.
Director of sustainability at the Travis Perkins Group, Paul Joyner, said: 'Solfex is a valuable addition to the Travis Perkins Group. Our strategy of offering our customers an integrated approach to energy efficient building will be greatly enhanced by the market leading proposition created by the Solfex team.'
Managing Director of Solfex, Stuart Cooper, said: 'We are committed to growing the company and, as part of the Travis Perkins Group, Solfex will work to make an expanded product range and expert service available to both existing and new customers.'
