Houlihan Lokey Advises Esdec and Gilde Buy Out Partners

Houlihan Lokey is pleased to announce that Esdec Solar Group BV (Esdec), a portfolio company of Gilde Buy Out Partners (Gilde), has completed a successful refinancing designed to enable the acquisition of IronRidge Inc. (IronRidge) and Quick Mount PV (Quick Mount). The transaction closed on 9 September 2019. Houlihan Lokey served as the exclusive financing advisor to Esdec on this transaction.

Esdec is a leading developer and supplier of specialty mounting systems used in the professional installation of solar panels on roofs. Through innovative and reliable products, the company serves the global residential and commercial real estate end markets via distributor and direct sales channels. Headquartered in Deventer, Netherlands, the company was founded in 2004 and has since provided mounting solutions for more than 15 million solar panels. Gilde Buy Out Partners bought Esdec in March 2018 as a buy-and-build platform, given the growing market dynamics. In October 2018, the company acquired EcoFasten Solar LLC, a leading US-based developer and supplier of rail-less mounting systems for installing solar panels on roofs, primarily sold directly to integrators that coordinate the installation of solar systems. In September 2019, the company completed the acquisitions of IronRidge, the US market leader in rail-based rooftop mounting systems for solar panels in the residential end market, and of Quick Mount, a leading developer and producer of solar mounting products for residential roofs, with both companies supplying through the distributor channel.

Gilde Buy Out Partners is a middle-market private equity investor with offices in Utrecht, Zürich, Brussels, and Frankfurt. Gilde's long-standing track record in private equity investing dates back to 1982. The firm has invested in over 250 companies across numerous sectors and currently has in excess of €3 billion in assets under management.