ETP snapped up by German company
Consulting engineering company Encraft has sold the controlling interest of its solar photovoltaic arm to Germany-based Soleg AG.
Soleg will take over the staff, assets and operations of Encraft Technology Products (ETP), which is based in Leamington Spa.
Details of the transaction were not disclosed.
The new company, to be renamed Soleg UK, will be launched later today (26 October) in Birmingham by Encraft's managing director Matthew Rhodes and Bernhard Seiler, managing director of Soleg.
The Germany-based company distributes solar photovoltaic, solar thermal and biomass technologies. It was founded in 1994 and has a turnover of about €130m.
Rhodes said: "The new business of Soleg UK will sit alongside our ongoing Encraft consulting engineering business, which will continue to provide independent technical expertise in micro-generation and energy efficiency for buildings at the leading edge of the UK market.
"Soleg brings greater capital strength and the purchasing power to enable procurement of technology at more competitive prices, and they also have expertise in solar thermal and biomass which will be new markets for ETP, but fit well with Encraft's wider interest in all micro-generation technologies and whole-building energy efficiency."
