Blackstone completes investment in Esdec Solar Group

• US investment giant Blackstone (NYSE: BX) on Thursday revealed the conclusion of a deal for a substantial calculated financial investment in Dutch rooftop solar mounting systems solid Esdec Solar Group BV, a portfolio business of European private equity financier Rivean Capital.

As part of the transaction, Rivean, which first backed Esdec in 2018, understood its initial bet as well as also re-invested into the business from both a freshly increased continuation fund and also its most recent flagship fund.

Blackstone tattooed the deal in July. The size of the shareholding and the quantity of the financial investment were not divulged.

Founded in 2004, Esdec establishes as well as disperses rooftop solar racking and mounting systems. The Deventer-based business is connected with near EUR 500 million (USD 479.2 m) in sales throughout three continents.

"We look forward to dealing with our partners Rivean and also Esdec's management team to more grow business to meet the huge and also expanding demand for rooftop solar, in both existing and new markets," Juergen Pinker, elderly handling supervisor at Blackstone, noted in the Thursday declaration.

The completion of the financial investment contract follows the European Commission (EC) gave a genuine nod to the handle October.