Nextpower announced that it has reached a definitive agreement to acquire Zimmermann PV-Steel Group, a German-based solar technology provider with more than 20 gigawatts (GW) installed and a strong presence in the German market, one of the largest solar markets in Europe.
Zimmermann was founded in 1950 and expanded into the solar sector in 2009, having developed more than 2,500 solar projects in 58 countries. By expanding its product portfolio and strengthening its regional presence, this acquisition will accelerate Nextpower's ability to offer world-class support and comprehensive solutions to solar developers and EPC clients across Europe.
The total transaction amount is €330 million in cash and stock, or approximately US$378 million based on exchange rates as of June 20, 2026, and is subject to customary closing conditions, including required regulatory review. The transaction is expected to close in the second half of Nextpower's fiscal year 2027.
“This transaction represents a new chapter for Nextpower internationally,” said Dan Shugar , founder and CEO of Nextpower.
“With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capabilities in Europe and beyond. Zimmermann’s structural solutions, including fixed-tilt structures, canopies, high-density solar trackers, innovative agricultural PV solutions, and floating PV systems, will broaden our European portfolio to support a wider range of land uses, permitting requirements, and regional use cases. We see a clear opportunity to combine Zimmermann’s strong product engineering and execution capabilities with Nextpower’s financial strength and comprehensive product platform to better meet customer needs in Europe and accelerate profitable international growth,” he added.
"Zimmermann has consolidated its business by focusing on the customer and offering high-quality engineering solutions for the specific needs of each project," said Robert Zimmermann, owner and CEO of the eponymous company.
"At Nextpower, we see a partner with highly complementary technologies, a strong geographic presence, and a clear customer focus. They bring scale, solutions, and complementary capabilities that will help us serve our customers more broadly, while maintaining the local relationships and engineering focus that have defined our business. We see this as an exciting new chapter for our company and our employees, as well as for our customers, suppliers, and partners across Europe," he added.
According to S&P Global, fixed tilt accounts for approximately 50% of the European large-scale photovoltaic market, particularly in markets such as Germany, France, and Poland. This transaction, along with Nextpower's recent international launch of NX Gemini™, a two-panel vertical (2P) solar tracker, is expected to more than double the energy generation opportunity (GW) that Nextpower can leverage in Europe.
Following the closing of the transaction, the company is expected to operate as "Zimmermann PV, a Nextpower company," which will preserve continuity for customers, employees, and relationships with the regional market, while allowing the business to grow through Nextpower's global presence.
Adjusted EBITDA excludes interest expense, tax adjustments, depreciation, stock-based compensation, net amortization of intangible assets, and acquisition-related costs. A quantitative reconciliation of adjusted EBITDA to the most comparable GAAP measure, net income, is not possible without disproportionate effort.