Page 9 - AfrElec Week 25 2021

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Adenia acquires South African

solar distributor Herholdt’s

SOUTH AFRICA ADENIA Partners, a private equity firm invest- partnerships with key promoters, digitalisation,
ing in Africa, has acquired a majority stake in as well as potential acquisitions. The investment
Herholdt’s, a leading distributor of solar systems is Adenia’s first in South Africa.
and low-voltage electrical products in South “We are delighted to begin our South African
Africa, its first acquisition in the country. journey by investing in Herholdt’s, a fast-growing
Herholdt’s operates in Bloemfontein, Kim- business with an impressive corporate culture.
berley and George, and has recently opened As a responsible investor, we were particularly
branches in Johannesburg and Cape Town. The attracted by the potential for high contribution
financial terms of the transaction have not been to the SDGs, and specifically to improve access
disclosed. to reliable and affordable energy,” says Florent de
Herholdt’s supplies a broad product portfolio Boissieu, Partner at Adenia. “We are pleased to
of 10,000-plus items to professionals – such as continue our pan-African expansion with our
installers, contractors and resellers – as well as newest office in Johannesburg, as we believe the
end-users. on-the-ground presence of our team is instru-
Herholdt’s originally focused on the sale of mental in actively supporting our investees.”
electrical equipment such as cabling, switches “We are thrilled to welcome Adenia as an
and sockets, as well as lighting. investor and look forward to continue our
In 2018, Herholdt’s successfully diversified growth with their strategic guidance and stead-
into the distribution of solar systems, a mar- fast approach to improving governance. The
ket experiencing rapid growth on the back of partnership is in perfect alignment with Her-
increasing product affordability and difficulties holdt’s ambitions to become a national market
faced by the national power grid system. leader, while meeting the highest industry and
The deal takes advantage of the falling priced environmental standards,” said Heine Herholdt,
for solar development, especially off-grid solar CEO of the company.
and commercial and industrial (C&I) projects. “The chemistry and synergy between the
Eskom’s continued inability to guarantee Adenia and Herholdt’s teams was there from
power supplies to the national grid, resulting in day one and I have no doubt that their combined
continued loadshedding, means that demand for efforts will be formidable. It is exciting for us to
alternative to grid power continues to rise. see another great South African company attract
Adenia will work together with Herholdt’s an international partner for its next phase,” says
to strengthen its leadership position in the Bahlmann, Chief Executive of Deal Leaders
solar market through new store openings, International.™

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