Blackstone has agreed to buy into rooftop solar mounting system Esdec Solar Group.
Esdec develops and distributes mounting systems for rooftop solar panels. It was acquired by Rivean Capital in 2018. Blackstone said it had since expanded in scale significantly against the backdrop of an accelerating energy transition.
The company generated €500m in sales across three continents.
Jürgen Pinker, senior managing director at Blackstone, said, “Esdec is an industry-leader in a fast-growing market with a track record of profitable growth, and we are delighted to partner with the management team and Rivean in achieving their long-term strategic plans.”
David Foley, global head of Blackstone Energy Partners, added, “Esdec’s products enable installers of rooftop solar to work safely and more efficiently, making solar power more affordable to consumers and thereby accelerating the energy transition, a key investment theme for Blackstone Energy Partners.”
Blackstone Energy Partners has invested over $20bn of equity within the energy industry.
It reportedly passed the $4bn mark for its Energy Partners III fundraise in 2020, with eyes on a $4.5bn target.
It committed $400m to lead a strategic investment in global carbon and environmental commodities trading platform Xpansiv earlier in the month.
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