KPMG Law advised the shareholders of Zimmermann PV-Steel Group on the sale to Nextpower

KPMG Law Rechtsanwaltsgesellschaft mbH (KPMG Law) advised the shareholders of Zimmermann PV-Steel Group (Zimmermann) on the sale of the company to Nextpower™ (Nasdaq: NXT),  a provider of solar and power technology solutions. KPMG Law provided the legal advice to the sellers in connection with the transaction.

The total consideration for the transaction amounts to up to €330 million (approximately US$378 million), comprised of cash and stock, and is subject to customary closing conditions, including required regulatory clearances. The transaction is to close once regulatory approval is granted.

Zimmermann PV-Steel Group, headquartered in Eberhardzell, southern Germany, was founded in 1950 and has been active in the PV substructures business since 2009. The Group develops, plans and supplies solar substructures – including fixed-tilt systems, carports, trackers, agriPV solutions and floating PV – and has delivered solar projects in various countries.

Nextpower designs, engineers and delivers an energy technology platform for solar power plants, innovating across structural, electrical and digital domains. According to the transaction rationale, the acquisition is intended to expand  Nextpower’s European product portfolio and add complementary structural solutions and supply chain capabilities.

KPMG Law provided  legal advice on the sell-side, including structuring aspects, drafting and negotiation of the share purchase agreement, ancillary transaction documents and transaction-related legal matters. The mandate was led by Dr. Ian Maywald (Partner) and Stephan Gönczöl (Senior Manager). The Corporate/M&A team further included Dr. Robert Müller (Senior Manager), Kilian Baum (Senior Associate), Lisa-Marie Miller (Senior Associate), Alexander Barynskyy (Senior Associate), the merger control and FDI team included Dr. Jonas Brueckner, the IP/IT included Dr. Daniel Taraz (Senior Manager) and Sina Schachner (Senior Associate).

Tax aspects were advised by KPMG AG Wirtschaftsprüfungsgesellschaft with Roman Meissner (Partner), Martina Füchsl (Senior Manager) and Antonia Sillich (Senior Associate).