Rivertrace expands with new acquisition
Solar Solve, a manufacturer and supplier of anti-glare window roller sunscreens in various sectors, joins Rivertrace (Source: Rivertrace)
Environmental monitoring specialist in the marine sector, Rivertrace, has completed its acquisition of Solar Solve Ltd, a manufacturer of anti-glare window roller sunscreens in the marine, offshore, aviation, agriculture, and commercial sectors.
The two family-owned companies are both export-oriented and have networks of distributors, original equipment manufacturers, and end-user customers in more than 65 countries. The combined entity will therefore benefit from a range of synergies and scale economies.
The purchase follows nine months of negotiations and marks the latest step in Rivertrace’s development strategy. It has expanded by more than 25% over the last five years and now the combined businesses can assess other possible growth options.
Rivertrace executive chairman, Mike Coomber, said: “Our plan has been to grow Rivertrace organically through the introduction of new products, expansion of our distribution model and infiltration of new markets and applications. We have been looking for a smaller business to purchase for the last year and Solar Solve has offered us a great opportunity.”
Solar Solve staff will all be retained and the brand will continue to operate as an independent entity. Four Rivertrace have been appointed as directors of Solar Solve.
