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19/03/2024
Wickes Acquires 51% Of Solar Fast
Wickes has acquired 51% of the issued share capital of Gas Fast Limited , the parent company of leading solar installations company Solar Fast.
The Business focuses on solar panels installations, alongside a smaller business installing gas boilers.
The acquisition will enable Wickes to expand its offering into the fast-growing market for home energy solutions, initially with solar and gas boilers and, in time, air source heat pumps and other services. The UK market for domestic solar installations is highly fragmented and is expected to expand significantly from an estimated £1.1bn in 2024 to £1.5bn in 20281 as homeowners and landlords retrofit their properties in order to save energy costs and reduce their environmental impact.
With its heritage as a trusted partner for major home improvement projects and installations, Wickes believes that it is well placed to take a leading share of this growing market and the Solar Fast acquisition enables it to expand its range of Design & Installation services.
David Wood, Chief Executive of Wickes, commented: "I am delighted to announce our acquisition of a majority stake in Solar Fast, a leading operator in the emerging and exciting market for energy saving solutions. This acquisition enables us to accelerate our Design & Installation growth lever, capitalising on our expertise in installing major home improvement projects.
"The Wickes brand has been trusted by home improvers for over 50 years and with Solar Fast as part of our proposition we will be perfectly placed to support them with their energy saving plans.
"I'd like to take this opportunity to welcome David Draper and his impressive team to the Wickes family and we look forward to delivering our exciting plans together."
The Business focuses on solar panels installations, alongside a smaller business installing gas boilers.
The acquisition will enable Wickes to expand its offering into the fast-growing market for home energy solutions, initially with solar and gas boilers and, in time, air source heat pumps and other services. The UK market for domestic solar installations is highly fragmented and is expected to expand significantly from an estimated £1.1bn in 2024 to £1.5bn in 20281 as homeowners and landlords retrofit their properties in order to save energy costs and reduce their environmental impact.
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With its heritage as a trusted partner for major home improvement projects and installations, Wickes believes that it is well placed to take a leading share of this growing market and the Solar Fast acquisition enables it to expand its range of Design & Installation services.
David Wood, Chief Executive of Wickes, commented: "I am delighted to announce our acquisition of a majority stake in Solar Fast, a leading operator in the emerging and exciting market for energy saving solutions. This acquisition enables us to accelerate our Design & Installation growth lever, capitalising on our expertise in installing major home improvement projects.
"The Wickes brand has been trusted by home improvers for over 50 years and with Solar Fast as part of our proposition we will be perfectly placed to support them with their energy saving plans.
"I'd like to take this opportunity to welcome David Draper and his impressive team to the Wickes family and we look forward to delivering our exciting plans together."
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