Kaldor Solar and Zetta Home Services will join the Irish arm of the Dutch private equity firm’s decarbonisation-focused portfolio of businesses.
Private equity firm Waterland Ireland has acquired majority stakes in two Irish energy technology companies, Kaldor Solar and Zetta Home Services, as part of a €50 million investment to expand Net Zero Group.
Waterland is the Irish arm of a Dutch private equity firm founded in 1999, and first entered the Irish market in 2019 with the acquisition of care home operator Silver Stream Healthcare. The firm’s Net Zero Group is focused on businesses that can contribute to decarbonising the atmosphere.
Cador Solar is a County Kildare-based renewable energy company that manufactures solar panels for residential and commercial properties across Ireland. Following the acquisition, Waterland will add the company’s photovoltaic (PV) products to its portfolio.
“Once a sad and expensive idea, installing solar panels is quickly becoming the cleanest and easiest way to achieve significant, long-term energy savings for homeowners and businesses alike,” Calder Solar announced today (June 13).
“Waterland’s new supergroup [NetZero] “Together, with the help of fellow energy conservation enthusiasts, we can make solar power more affordable and accessible to homes across the country.”
Meanwhile, Zetta is a heat pump service and solar power installation company based in Dundalk, founded in 2022 by experienced heat pump engineer and plumber Gearoid Harvey.
“As part of a €50 million investment to accelerate Ireland’s renewable energy transition, Waterland Ireland is providing funding to selected companies that share a shared vision for a cleaner, more sustainable Ireland,” Cador Solar said.
As well as the Netherlands and Ireland, Waterland also operates in Belgium, Germany, Switzerland, Denmark, Norway, France, Spain, Poland and the UK, employing 190 people from 20 countries.
Last year, the private equity group backed Mies-based MTM Engineering’s acquisition of CET Connect and more recently backed Blitz 24-73’s bid to acquire LifeFit Group, a leading fitness and wellness platform based in Frankfurt, Germany.
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