Rivertrace Continues Growth Path with Acquisition of Solar Solve
Rivertrace, the UK based Quality-Assured Company and market leader with over 30 years of experience developing environmental monitoring solutions for the marine market, has completed its acquisition of Solar Solve Ltd, a manufacturer and supplier of anti-glare window roller sunscreens in the marine, offshore, aviation, agriculture, and commercial sectors.
The purchase, which was finalised in November following nine months of negotiations, represents the latest step in Rivertrace’s growth strategy. Rivertrace has grown more than 25 percent in the past five years and is now looking to consolidate the two businesses with further potential acquisitions on the horizon.
Solar Solve will continue to operate as an independent entity with all its current staff retained. The four Rivertrace directors have been appointed to the Board of Solar Solve. The two family-owned companies, both of which were founded in the 1980s, are export oriented with distributors, OEMs and end-user customers, selling to over 65 countries across the world. The synergistic effects of the acquisition include Solar Solve being able to benefit from Rivertrace’s systems, processes, engineering experience, and infrastructure, while Rivertrace will be able to build on the legacy established by Solar Solve’s founders.
Mike Coomber, Executive Chairman of Rivertrace said: “Our plan has been to grow Rivertrace organically through the introduction of new products, expansion of our distribution model and infiltration of new markets and applications. We have been looking for a smaller business to purchase for the last year and Solar Solve has offered us a great opportunity.
“We are delighted to have secured the acquisition of Solar Solve, which has succeeded and grown due to the dedication and hard work of its owners, John Lightfoot MBE and Julie Lightfoot MBE, to join the ever-growing Rivertrace family. We will work with the key stakeholders of Solar Solve, its employees, customers, and suppliers to expand the business in line with our strategic goal.”
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