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Dometic Acquires Zamp Solar

Stockholm, Sweden - May 27, 2021. On May 26, 2021, Dometic completed the acquisition of Zamp Solar, a leading North American manufacturer of innovative and high-quality mobile solar power solutions for the outdoor market.

SUMMARY

  • The acquisition of Zamp Solar broadens Dometic's position in the fast-growing market for mobile solar power solutions. 
  • In 2020, Zamp Solar’s sales were approximately USD 14 million with a good operating margin and strong organic sales growth. 
  • The transaction is effective from today and is expected to be accretive to Dometic’s EPS from start. 

DESCRIPTION OF ZAMP SOLAR

Since its founding in 2010, Zamp Solar has rapidly become one of the leading North American manufacturers of innovative, high-quality mobile solar power solutions. Based in Bend (Oregon) and with more than 400 active customers, Zamp Solar serves several vertical end markets in the outdoor space. 

Zamp Solar’s products are known for their high-quality and recycled contents, and include solar panels, charge controllers, power boxes and various solar kits. 

With 50% of net sales in service and aftermarket, total 2020 net sales were approximately USD 14 million with a good operating margin and strong organic sales growth. Zamp Solar has approximately 65 employees.  

BACKGROUND AND REASONS FOR THE TRANSACTION

Expansion in the fast-growing market for mobile power solutions is a strategic priority for Dometic. The market demand for sustainable and effective off-grid mobile power solutions is rapidly increasing as more and more people spend time outdoors using a vehicle or boat as the base. This acquisition strengthens Dometic’s presence, know-how and distribution network for mobile solar power solutions in North America.

"We are excited to welcome the Zamp Solar team to Dometic. Zamp Solar complements our earlier acquisitions in mobile power solutions and brings unique in-house design and manufacturing expertise. In addition to positioning Dometic at the forefront of vehicle electrification trends, mobile power solutions also address the critical need for people using powered products when experiencing the outdoor lifestyle. Our strategy for profitable expansion in Mobile Living is built on a combination of organic and acquisitive growth. This is our fifth announced acquisition this year and our pipeline of potential future acquisitions remains strong." says Juan Vargues, President and CEO of Dometic.

The acquisition is fully financed via cash on hand and is expected to be accretive to Dometic’s EPS from start. 

The transaction price is not material in relation to Dometic’s market capitalization and is not disclosed. The transaction is structured as a simultaneous sign and close and is effective from today. Zamp Solar will be reported as part of segment Americas. 

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Contacto de prensa

Jose A. de la Torre |  jose.delatorre@dometic.com  |  +34 661 425 951

ACERCA DE DOMETIC
Dometic es líder en el mercado mundial de soluciones portátiles en las áreas de alimentos y bebidas, climatización, energía y control y otras aplicaciones. Dometic desarrolla su actividad en América, EMEA y Asia-Pacífico, proporcionando productos para su uso en vehículos recreativos, camiones y automóviles premium, embarcaciones de recreo y comerciales y para otra variedad de usos. Nuestra motivación es crear productos fiables, prácticos y con un diseño excepcional. Vendemos nuestros productos en aproximadamente 100 países y contamos con una red global de distribución y proveedores encargada de abastecer al mercado de repuestos. Dometic emplea aproximadamente a 6 500 personas en todo el mundo, tuvo unas ventas netas de más de 16 200 millones de coronas suecas (1800 millones de dólares) en 2020 y tiene su sede en Estocolmo (Suecia).

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