Schaan, Liechtenstein — Hilti Group has purchased Unirac Inc., a U.S.-based solar mounting solutions provider. Hilti said that the acquisition will give it a significant share in the PV mounting business in North America, while Unirac will be able to extend its reach through Hilti’s global presence.
Unirac will continue to be based in Albuquerque, New Mexico, and operate under its existing name and management structure led by president and CEO Doug May. Hilti is purchasing Unirac from the Global Environment Fund (GEF), a U.S.-based private equity firm investing growth capital in companies throughout the world.
“Since our purchase of Unirac in 2006, the company has grown its revenues profitably at an annual growth rate of approximately 55 percent,” said Lisa Schule, GEF’s managing director. “Unirac’s success is a testament to the quality of the company’s management team and a validation of GEF’s strategy of investing in companies with practical and proven clean energy solutions.”
Coupled with Unirac’s established manufacturing and supply chain infrastructure, solar engineering expertise and strong channel partners, Hilti said that it is securing its position as a leading player and preferred partner for PV mounting solutions for solar applications in all market segments.
“Unirac has been highly successful in providing the PV mounting market with industry-leading technology and a range of product solutions and services,” May said. “We are extremely excited about applying Hilti’s broad base of expertise in serving the professional contractor market around the world to accelerate the tremendous growth opportunities in the North American and global solar markets.”