BOM et al. invest in Smit Ovens

The deal marks the first investment made from BOM's Cleantechfonds Brabant, a €12m vehicle that invests in solar energy, electric vehicles and smart grids.

The two parties have reinvested alongside Smit's management and new backer Netherlands Enterprise Agency (Rijksdienst voor Ondernemend Nederland).

The fresh funding will allow Smit to finance the development of a new generation of thin-film solar cells.

Active Capital acquired a majority stake in Smit in January 2011. BOM and the company's management invested alongside the firm.

Since its acquisition, Active has appointed an operational manager responsible for purchasing, production and installation for the company. It has also begun expansion of Smit's sales network and made administrative changes.

Company
Founded in 1936, Smit is headquartered in Eindhoven with additional offices located in South Korea, Japan, China, Taiwan and the US. The company employs 50 staff and generates turnover of approximately €15m.

Smit develops thermal equipment for the mass production of solar cells; its customers are mainly US- or Asia-based thin-film solar panel manufacturers. The company claims to have carried out more than 3,000 installations.

People
Wiro Zijlmans is the director of Smit.

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• Topics
• Expansion
• Benelux
• Industrials
• Netherlands