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About SolarExcel

SolarExcel, a Dutch producer of an energy enhancing foil for solar panels, was acquired by DSM in 2013. In 2007 they commenced with the development of a textured surface that significantly increases the energy output of existing solar panels. Depending on the specific type of panel, the additional output varies between 6 to 12%.

SolarExcel’s Needs

To facilitate an efficient market introduction, SolarExcel wanted to join forces with a large strategic player with the right distribution channels and large-scaled production facilities. DSM brought the network and financial means to realize these goals.

Relevant factors

Our approach

Over the past years there has been regular contact about strategic issues. Since it concerned a new product and historic financial data was unavailable, we developed a new valuation model. Combined with our extensive knowledge of the renewable energy sector, it enabled us to identify the right partner for SolarExcel.

Our solution

We were financial advisor to SolarExcel concerning the M&A structure. By applying our advanced earn-out model and scenarios, we were able to advise our client very effectively. Ensuring a realistic purchase price and solving intellectual property matters.