Florida-based financial firm Kawa Capital Management Inc. has completed its acquisition of Conergy Americas, the U.S. and Canadian subsidiaries of Conergy AG. This is the first step in a multiphase acquisition of Conergy sales units in the U.S., Canada, Singapore and Thailand.
Kawa stepped in to take over the brand and sales organization of foundering Conergy in July.
‘We're thrilled by the acquisition and the business opportunities that will come from partnering with Kawa,’ says Conergy Americas President Anthony Fotopoulos. ‘This strong backing and extended funding from an experienced investor familiar with the North American market means we can further develop our downstream business and continue to deliver high-quality solutions and services that our North American partners can rely on.’
Kawa says the remaining global sales units of Conergy AG and their associated administrative, management and infrastructure functions will continue operating in their current structure, and will be acquired in the second phase of the process, targeted for completion by October 2013, subject to final agreements.