Nextpower has entered into a definitive agreement to acquire Zimmermann PV-Steel Group, a Germany-based solar substructure manufacturer with more than 20 gigawatts deployed across 58 countries, the company announced at Intersolar Europe in Munich on June 22, 2026.

The deal, valued at up to USD 378 million in a combination of cash and stock, is expected to close in the second half of Nextpower's fiscal year 2027, subject to customary regulatory review and closing conditions.

Transaction Details and Financial Expectations

The acquisition brings together two solar technology providers with largely complementary geographic and product footprints. Nextpower, which trades on the Nasdaq under the ticker NXT, said the business is expected to contribute approximately USD 343.6 million in revenue and USD 51.5million in adjusted EBITDA on an annual run-rate basis following the close of the transaction. The company characterized the deal as expected to be accretive.

Adjusted EBITDA, as defined by Nextpower, excludes interest expense, taxes, depreciation, stock-based compensation, net intangible amortization, and acquisition-related costs. The company noted that a quantitative reconciliation of adjusted EBITDA to the most comparable GAAP measure, net income, was not available without unreasonable efforts.

Peryton Advisory acted as the financial advisor in connection with the transaction.

What Zimmermann Brings to the Table

Zimmermann PV-Steel Group was founded in 1950 and entered the photovoltaic industry in 2009. Headquartered in Oberessendorf/Eberhardzell in southern Germany, the company has delivered more than 2,500 solar projects across 58 countries and has more than 20 gigawatts of installed capacity to its name. Its product range includes fixed-tilt structures, solar carports, high-density trackers, agriPV solutions, and floating PV systems.

The acquisition is expected to extend Nextpower's addressable market with four new product lines and expand its reach across 15 additional countries. Nextpower said the deal would also give it access to Zimmermann's established customer base, which it expects to serve as a channel for incremental demand for its existing product portfolio, including trackers, electrical balance of systems, power conversion systems, and battery energy storage systems.

Nextpower, fixed-tilt structures account for approximately 50 percent of Europe's utility-scale photovoltaic market today, with particularly strong penetration in Germany, France, and Poland.

Nextpower said this acquisition, combined with its recent international launch of NX Gemini, a two-in-portrait tracker system, is expected to more than double its addressable gigawatt opportunity in Europe.

Strategic Rationale from Both Sides

Dan Shugar, founder and CEO of Nextpower, framed the deal as a significant step in the company's international growth strategy. "This transaction represents the next chapter for Nextpower internationally," Shugar said.

"With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capability in Europe and beyond."

Shugar pointed specifically to Zimmermann's engineering capabilities and product range as filling gaps in Nextpower's European portfolio, saying the combined offering would support a broader range of land-use requirements, permitting conditions, and regional use cases across the continent.

He described the combination as bringing together Zimmermann's engineering and execution strengths with Nextpower's bankability and broader product platform.

Robert Zimmermann, owner and CEO of Zimmermann PV-Steel Group, said the company had built its reputation around customer focus and precision-engineered solutions.

"In Nextpower, we see a partner with highly complementary technologies, geographic footprint, and customer focus," he said. "They bring scale and complementary solutions and capabilities that will help us serve our customers more broadly while preserving the local relationships and engineering focus that have defined our business."

Branding and Operational Structure Post-Close

Following the close of the transaction, Nextpower said the acquired business is expected to operate under the name "Zimmermann PV, a Nextpower Company."

The company said this approach is intended to preserve continuity for customers, employees, and regional market relationships while enabling the business to scale through Nextpower's global footprint.

The announcement was made at The Smarter E Europe and Intersolar Europe tradeshow in Munich, which runs from June 23 to 25. Nextpower said further details about the transaction are available through an investor presentation and at its stand in Hall A5 at the event.

European Market Context

Germany represents one of Europe's largest solar markets, and Zimmermann's deep presence there forms a central part of the strategic rationale for the acquisition.

The Zimmermann business is headquartered in southern Germany and has built its market position over more than 15 years of activity in the photovoltaic substructure segment.

Nextpower, which describes itself as a provider of solar and power technology solutions that innovates across structural, electrical, and digital domains, said the addition of Zimmermann's capabilities would strengthen its ability to serve solar developers and engineering, procurement, and construction customers across Europe.

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