Kloeckner Metals completes the acquisition of SOL Components, a leading provider of solar (PV) racking and single-axis tracking systems.

• Acquisition enables KMC to vertically integrate into the structural solar market while expanding existing steel supply channels to the renewables industry in North America.
• SOL provides a massive growth opportunity, as well as deep industry expertise in the structural solar product market.
• The combined North American entity will leverage 56 steel servicing/processing locations, over $5B in annual revenue, and over 2,600 employees to service both the commercial and utility-scale solar sectors.

October 2^nd, 2023 – Kloeckner Metals has closed the acquisition of SOL Components (“SOL”), a leading provider of end-to-end structural solar solutions in the commercial and utility solar markets. The transaction was made through Klöckner & Co’s U.S. subsidiary, Kloeckner Metals Corporation (“KMC”).

The acquisition of SOL enables KMC to further strengthen their position as a leading distributor of steel and metal products, while focusing on the rapidly growing solar market. The vast Kloeckner regional presence of 56 steel centers throughout the US and Mexico, in conjunction with key solar EPC relationships and an 18-year history of bringing fixed-tilt and single-axis tracker products to market make the transaction a perfect fit for both companies.

Guido Kerkhoff, CEO of Klöckner & Co SE: “The closing of this transaction marks an important milestone on our way to implementing our corporate strategy ’Klöckner & Co 2025: Leveraging Strengths’. As a result, we will further strengthen our commitment to sustainability in North America in the long term. Sol Components’ key customers will benefit from an even larger product and service portfolio.” Green steel initiatives/carbon tracking comment?

John Ganem, CEO of Kloeckner Metals Corporation, adds: “In Sol Components, we have found the ideal complement for the future progress of Kloeckner Metals Corporation. We look forward to working with this experienced team at Sol and providing the resources and horsepower they need in order to scale.” IRA domestic steel & manufacturing incentives comment?

“This opportunity to partner with a 120-yr old, global, publicly traded steel company brings our team the true ‘bankability’ that our solar customers and project owners have been looking for in the solar space for a long time. I look forward to bringing this new model to our key customers.”, added Mike Fraenkel, President/CEO of Sol Components (VP Solar, Kloeckner).

Going forward, the company aims to expand its market presence, broaden the product offering and further develop existing relationships through cross-selling and much deeper supply chain. In addition, Sol’s customers will have better access to domestic steel to support the growing investment into renewable energy and the rising demand for e-mobility in North America.

About Klöckner & Co:

Klöckner & Co is one of the largest producer-independent distributors of steel and metal products and one of the leading steel service companies worldwide. Based on its distribution and service network of around 160 sites in 13 countries, Klöckner & Co supplies more than 90,000 customers. Currently, the Group has around 7,700 employees. Klöckner & Co had sales of some €9.4 billion in fiscal year 2022. With the expansion of its portfolio of CO2-reduced materials, services and logistics options under the new Nexigen® umbrella brand, the company is underscoring its role as a pioneer of a sustainable steel industry. At the same time, Klöckner & Co leads the way in the steel industry’s digital transformation and has set itself the target of digitalizing and largely automating its supply and service chain. In this way, the Company aims to develop into the leading one-stop shop for steel, other materials, equipment and processing services in Europe and the Americas.

The shares of Klöckner & Co SE are admitted to trading on the regulated market segment (Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with further post-admission obligations (Prime Standard). Klöckner & Co shares are listed in the SDAX® index of Deutsche Börse.

ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.

About Kloeckner Metals Corporation:

Kloeckner Metals Corporation (KMC) is a subsidiary of Klöckner & Co headquartered in Roswell, Georgia. It is one of the largest distributors of steel and metal products and one of the leading steel service companies in North America. The company has around 2,600 employees at 56 branches across the USA and Mexico and generated pro forma sales of USD 5.4 billion in fiscal year 2022. KMC is committed to delivering the latest fabrication and processing technologies and the most innovative supply chain solutions to its customers. The company also provides access to electrical steel, aluminum, and stainless steel, especially serving automotive and industrial end markets in North America.