2012-12-21 | Shanghai
Shanghai, China, December 21, 2012 - SMA Solar Technology AG today signed a definitive agreement to acquire a 72.5% controlling stake in Jiangsu Zeversolar New Energy Co., Ltd., a leading photovoltaic inverter company in China. The transaction enables the Niestetal, Germany based SMA to secure access to the growing Chinese solar market and to consolidate its global leadership.
This landmark transaction, the largest in the Chinese solar industry of the year, is representative of the kind of work E. J. McKay is engaged in, that of "advising a highly select group of key clients in their significant cross-border transactions that create measurable synergy and transform the impacted industry," said James Z. Li, Chairman of E. J. McKay. "The SMA Zeversolar deal is an important strategic milestone for our client and solidifies EJM's leadership position in the renewable energy sector," he further remarked.
The largest solar inverter maker in the world with a 2011 revenue of 1.7 billion Euros, SMA Solar Technology AG is a global leader in the development, production, and sales of photovoltaic inverters. As a leading energy management group, SMA offers innovative key technologies for future power supply structures. SMA is headquartered in Niestetal, Germany, and represented in all important PV markets in 21 countries.
Jiangsu Zeversolar New Energy Co., Ltd. is a leading Chinese developer and producer of PV inverters, based in Suzhou, Jiangsu. Zeversolar offers a range of products from residential PV systems all the way to PV power plants in the megawatts. The company has research and development facilities in Suzhou and Shanghai, sales and service branches throughout China, and subsidiaries in Australia and Germany. Zeversolar currently employs more than 450 employees worldwide, and in 2011 achieved sales of CNY approx. 250 million.