August 24 (Solar) – US building products company Gibraltar Industries Inc (NASDAQ:ROCK) said on Thursday it has bought SolarBOS, a California-based firm that offers electrical balance of systems products for the solar energy market.
The acquisition is expected to bolster Gibraltar Industries’ position in the US renewable energy market and more specifically expand its integrated solar racking and engineering solutions. The transaction is also seen to be accretive as from 2019.
Gibraltar Industries did not say how much it paid for the particular business, but noted that it was an all-cash transaction. SolarBOS generated USD 13.5 million (EUR 11.7m) in revenue on a trailing 12-month basis.
Gibraltar Industries is the owner of Ohio-based RBI Solar which operates as a provider of photovoltaic (PV) solar mounting solutions in North America.
(USD 1.0 = EUR 0.865)