Capital Stage acquires Conergy

The investor was attracted to the company as it has invested in several firms in the renewable energy sector and has recently been focused on the solar and wind energy market.

In November 2010, it was announced that Conergy Group was suffering from an excessive indebtness and had to restructure its €325m debt structure provided by Commerzbank and other credit institutions. Subsequently, the company's assets were downsized by selling its wind energy business and heat pump subsidiary. The shareholders have also agreed on a capital decrease and refinance arrangement.

The Flurlingen-based subsidiary Conergy (Schweiz) GmbH provides products and solution services for alternative energy technology. The company was founded in 1988. The Conergy Group had an EBITDA of €30.1m and a turnover of €913.5m in the last fiscal year.

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