SBA
Assa Abloy

Rivertrace Continues Growth Path with Acquisition of Solar Solve

Solar Solve

Rivertrace, the UK-based company that focused on developing environmental monitoring solutions for the marine market, announced the completion of its acquisition of Solar Solve Ltd, a manufacturer and supplier of anti-glare window roller sunscreens in the marine, offshore, aviation, agriculture and commercial sectors.

The purchase was finalized in November 2022 following nine months of negotiations, according to a press release.

“Our plan has been to grow Rivertrace organically through the introduction of new products, expansion of our distribution model and infiltration of new markets and applications,” said Mike Coomber, executive chairman of Rivertrace.

“We have been looking for a smaller business to purchase for the last year and Solar Solve has offered us a great opportunity.

“We are delighted to have secured the acquisition of Solar Solve, which has succeeded and grown due to the dedication and hard work of its owners, John Lightfoot MBE and Julie Lightfoot MBE, to join the ever-growing Rivertrace family. We will work with the key stakeholders of Solar Solve, its employees, customers, and suppliers to expand the business in line with our strategic goal.”

The purchase represents the latest step in Rivertrace’s growth strategy. Solar Solve will continue to operate as an independent entity and will keep its current staff. Four Rivertrace directors have been appointed to the Board of Solar Solve.

Both companies were founded in the 1980s and are export-oriented, selling to over 65 countries across the world. They will both benefit from the acquisition as Solar Solve can now rely on Rivertrace’s systems, processes, engineering experience, and infrastructure, while Rivertrace will be able to build on the legacy established by Solar Solve’s founders.

 

 

Cruise Industry News Email Alerts

Cruise Industry News Email Alerts