August 22, 2013 - On Wednesday, M+W Americas (M+W), a company of M+W Group, acquired 100% ownership of Gehrlicher Solar America Corporation (GSAC). GSAC will operate as a stand-alone subsidiary of M+W Americas.
The acquisition provides M+W with a proven capability in the engineering, procurement, construction, operations and management of solar power plant facilities in the 1 to 15MW range.
Concurrent with the acquisition of GSAC, M+W announces that Mr. Jerry Shinn will assume the duties of President of GSAC.
"This acquisition represents a further step toward extending M+W Group's global competence in this market, so that we can provide our customers with comprehensive PV Power Plant solutions in Europe, Asia, and now additonally in America," said M+W Group CEO Jürgen Wild.
"The renewable market is seeking companies that will take responsibility for project execution from inception through design, permitting, procurement, installation and eventually, operation. The combined capabilities of M+W and GSAC will provide that 'one-stop-shop' for our clients." added Rick Whitney, M+W Americas' President & CEO.
"GSAC demonstrated market leading capabilities combined with M+W's one hundred year history delivering excellence will significantly increase our united value to customers in reaching their project goals.", commented Jerry Shinn, President of Gehrlicher Solar America Corporation.
"We are more than pleased that we have succeeded, together with the mandated M&A consultants in Germany and the United States, in gaining a strong partner for Gehrlicher Solar's US subsidiary in such a short time", said the preliminary administrator Oliver Schartl of the Munich law firm Müller-Heydenreich Beutler & Kollegen. Also Dr. Stefan Parhofer, Member of the Board of Gehrlicher Solar AG, is convinced that "this is the best outcome, both for our customers and our employees".