MB Zonnepanelen has been acquired by Tenten Solar
23-03-2021
Lichtenvoorde, 19 March 2021 - MB Zonnepanelen B.V. of Bodegraven and Tenten Solar of Lichtenvoorde have reached agreement on a common future. MB Zonnepanelen, a specialist in the field of solar panel systems, is joining forces with Tenten Solar with immediate effect. The acquisition is entirely in line with Tenten Solar's buy & build strategy, and MB Zonnepanelen's ambition to move to the next level. The new group covers the whole country, which means that both parties are able to serve their clientele better on the basis of knowledge, product portfolio and geographic cover.
‘The Netherlands is facing an enormous challenge in terms of accelerating the uptake of sustainable practices. The employees of Tenten Groep and MB Zonnepanelen are proud to be able to make a contribution to this,’ says Berry Seesing, CEO of Tenten Solar.
Knowledge, quality and reliability
Since the foundation of Tenten Solar, the company has developed into a solar-power group that operates countrywide. The focus lies particularly on knowledge, quality and reliability, and these form the basis for this development. Berry Seesing: ‘The partnership agreement between MB Zonnepanelen and Tenten Solar means that we are making great strides towards achieving our growth strategy. The tremendous growth that MB Zonnepanelen has made in the past few years is something to behold. The company has an excellent reputation in the "Green Heart” region (the area between Rotterdam, The Hague, Amsterdam and Utrecht) and the projects it works on are, in geographic terms, a welcome addition to Tenten Groep.’
MB Zonnepanelen will continue to operate as an autonomous limited liability company under the Tenten Solar flag. Given MB Zonnepanelen's good reputation and the confidence the company has earned in the region, Seesing regards this as a logical choice. ‘Naturally, we will be maximising the benefits of synergy, but the customer focus and regional roots of both companies are things we cherish.’
Ready for the next step
MB Zonnepanelen, founded in 2009 by Marcel de Bruijn, has, over the years, developed into a strong regional player in the field of solar panel systems for private customers and the SME sector. ‘In the past few years we have grown substantially, and we have been able to establish a good niche in the market. MB Zonnepanelen was ready for the next step, so that it could better adapt to the needs of its customers and accelerate growth. Further professionalisation of our organisation is central to this, and the knowledge and infrastructure provided by Tenten Solar will have an important role to play in this respect,’ adds Marcel de Bruijn, who is staying on in his role as member of the board of management and joint shareholder.
Accelerated roll-out for buy & build strategy
The addition of MB Zonnepanelen is a good fit with Tenten Solar's growth strategy. Apart from organic growth, Tenten Solar is always on the lookout for potential acquisitions. The buy & build strategy has been in overdrive since investor Quadrum Capital got on board in 2019, acquiring a shareholding. Berry Seesing: ‘Quadrum Capital makes an important contribution to our growth strategy as a strategic sparring partner, with its financial clout and buy & build expertise.’ Rien Nagel, partner at Quadrum Capital adds, ‘We see great potential for acquisitions that will enable Tenten Solar to serve its customers even better and, in that sense, are open to companies that would represent a good addition to the group.’
