Italian Solar Inverter Producer Seeking Bidders For Takeover

Fimer, the Italian power electronics equipment maker, has issued a call inviting expressions of interest (EOI) from interested bidders to buy the company that has been under Extraordinary Administration since late-2023.   

A supplier of both string as well as central inverters globally, Fimer operates 2 industrial plants in Italy’s Terranuova Bracciolini and one in India. It also produces systems for charging electric vehicles (EVs).   

Fimer was declared insolvent by the Court of Milan in October 2023. It was placed under Extraordinary Administration under which it was allowed to continue its business activities under the management of the Judicial Commissioners until the Ministry of Enterprise and Made in Italy took further measures.  

Recently, the company secured a go-ahead to identify interested parties to buy Fimer, inseparably and as a whole. This transaction will also comprise all of its plant, machinery and equipment, inventories, certifications, real estate, and foreign equity investments held by the Italian group in Fimer India Private Limited, Fimer Singapore, among others.  

Interested bidders have time till August 31, 2024 to express their interest in acquiring Fimer. The details are available on Fimer’s website.     

Recently, the company showcased its new residential and commercial and industrial (C&I) series hybrid inverters at Intersolar Europe 2024 (see Italian Power Electronic Equipment Maker Bringing New Products).