Hilti Group, a manufacturer and supplier of specialized tools and fastening systems, has acquired Unirac Inc., a provider of photovoltaic solar mounting solutions.
According to the company, the acquisition will provide Tulsa, Okla.-based Hilti North America with an extended presence in the fast-growing North American market.
Unirac will continue to be based in Albuquerque, N.M., and operate under its existing name and management structure, led by president and CEO Doug May. Hilti is purchasing Unirac from the Global Environment Fund, a U.S.-based private equity firm.
SOURCE: Hilti Group