McLaren Applied Group has acquired Italian inverter manufacturer Fimer for an undisclosed amount through its subsidiary MA Solar Italy Ltd. The deal, which includes Fimer’s assets, will help McLaren Applied expand its core business.
The administrators of Italian inverter manufacturer Fimer have announced the sale of its business complex to MA Solar Italy Ltd., part of McLaren Applied Group, for an undisclosed amount.
“The decision, approved by the Ministry of Business and Made in Italy (MIMIT), comes after a careful evaluation of all binding offers from potential investors for the acquisition of Fimer SpA’s business assets,” Fimer said.
The new corporate structure should enable the company to retain its workforce, especially at its inverter production site in Arezzo, Italy.
In July 2024, Italian newspaper Il Giorno reported the collective dismissal of 55 of the 65 remaining employees at the company’s site near Milan. The company will reportedly be able to continue its core business.
“The significant technological synergies between Fimer SpA and McLaren Applied are expected to drive technological advancements, operational efficiencies and further market expansion, including in new sectors compared to the current core businesses,” Fimer said. “This acquisition marks an important turning point for the company, allowing it to complete the restructuring process, support its business continuity plan and expand its operations.”
MA Solar Italy Ltd. was chosen for its business plan, which focuses on expanding the design and production of inverters for solar systems. The company, which is part of McLaren Group, became independent in 2021 and is now owned by private investment firm Greybull Capital.
Fimer announced an industrial restart in September 2022 after filing a settlement with creditors at a tribunal in Arezzo. The company filed a request for creditor protection with the same court in February 2023 and presented its new industrial plan to the tribunal at the end of June 2022.
In July 2023, Fimer said its board of directors had chosen Clementy Group as a strategic partner to acquire the company, pending a decision by the Milan court. However, no further announcements have been made about this operation.
Fimer has two inverter factories in Italy and one in India.
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