McLaren Applied Group has purchased Italian inverter manufacturer Fimer for an undisclosed sum through its subsidiary, MA Solar Italy Ltd. The deal, which includes Fimer’s business assets, will help McLaren Applied expand its core operations.
The administrators of Italian inverter maker Fimer have announced the sale of its business complex to MA Solar Italy Ltd., which is part of McLaren Applied Group, for an undisclosed sum.
“The decision, authorized by the Ministry of Business and Made in Italy (MIMIT), comes after a careful evaluation of all binding offers submitted by potential investors for the acquisition of Fimer SpA’s corporate assets,” said Fimer.
The new corporate structure should allow the company to maintain its workforce, especially at its inverter production site in Arezzo, Italy.
In July 2024, Italian newspaper Il Giorno reported the collective dismissal of 55 of the 65 surviving employees of the company’s site near Milan. The company will reportedly be able to continue working in its core business.
“The significant technological synergies between Fimer SpA and McLaren Applied are expected to foster technological progress, operational efficiency and further market expansion, including in new sectors compared to the current core business,” Fimer said. “This acquisition represents an important turning point for the company, allowing it to complete the restructuring process, support the business continuity plan and expand its activities.”
MA Solar Italy Ltd. was chosen for its business plan, which focuses on growing its inverter design and production for solar systems. The company, which is part of McLaren Group, became independent in 2021 and is now owned by private investment firm Greybull Capital.
Fimer announced an industrial relaunch in September 2022 after entering composition-with-creditors proceedings at a tribunal in Arezzo. The company filed for creditor protection with the same court in February 2023 and presented its new industrial plan to the tribunal in late June 2022.
In July 2023, Fimer said its board of directors had chosen Clementy Group as a strategic partner to acquire it, pending a decision by the Court of Milan. However, no further announcements have been made regarding this operation.
Fimer runs two inverter factories in Italy and one in India.
