Sunex takes over the service of public orders from the Company Polska Ekologia
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SUNEX S.A., a leading manufacturer and distributor of innovative solutions based on renewable energy sources, finalises the takeover of public procurement services from Polska Ekologia. The value of the transaction was set at PLN 1.2 million and will be carried out on a cashless basis, using the institution of offsetting mutual receivables. The transaction is planned to be completed by the end of May this year.
SUNEX S.A. acquired 100% of shares in Polska Ekologia Przetargi sp. z o.o. for PLN 1.2 million. The acquisition price is the market value determined on the basis of an estimation made by an independent expert. The transaction will be completed by the end of May this year using the institution of offsetting (compensation) of mutual receivables of the parties to the transaction. This means its non-cash nature.
The transaction will lead to the acquisition from the parent company Polska Ekologia of a part of its activities related to the implementation of public procurement, carried out by local government units in the field of renewable energy sources (photovoltaics, heat pumps, solar systems). Conceptual and analytical work in this area was initiated in February this year. In order to complete the transaction in the company Polska Ekologia Przetargi sp. z o.o., the share capital was increased and registered, which was covered by a non-cash contribution by Polska Ekologia of an organised part of the enterprise (in the form of the Technical Department and the Bidding Department).
The takeover of public procurement services will increase the Company’s revenue potential. At the same time, it will provide an additional impetus to the development of own production and will significantly contribute to improving the competitiveness of the offer. On the Polish market, public procurement currently accounts for a significant part of sales of renewable energy equipment. SUNEX has so far been a sub-supplier of some of the equipment to Polska Ekologia, which carried out deliveries under public procurement as a contractor. Revenues generated by Polska Ekologia under public procurement were not reported by SUNEX due to lack of consolidation of financial data of both entities.
“We see a very high potential in the development of the activity related to the execution of public orders. This is a very important business area given the current policy trends at the national and European level and the significant public and private funds directed towards the energy transition. In addition to the anticipated increase in revenue, one of the key benefits of the transaction is the transfer of know-how in the execution of such projects from the parent company. Polska Ekologia has been present on the tendering market for many years and we are taking over an activity with extensive experience and competences,” – Romuald Kalyciok, President of SUNEX S.A. emphasised.