FRANKFURT, July 8 (Reuters) – German photovoltaics leasing firm Enpal has secured 100 million euros ($118 million) in equity as it seeks to rapidly expand its business and targets supplying one million households with solar rooftop systems by the end of the decade.
Investors including HV Capital, SolarCity co-founder Peter Rive, HelloFresh co-founder Thomas Griesel and former Auto1 manager Christopher Muhr, as well as Heliad Equity, E.R. Capital and Friba Investment, participated in the financing.
The deal values Enpal at about 700 million euros, people close to the matter said.
The company declined to comment on the valuation.
Enpal last year posted sales of 56 million euros, which could roughly double this year.
While continuing to consider all financing options, Enpal is currently not planning an initial public offering or merger with a blank check company, said Mario Kohle, who founded the company in 2017.
Berenberg acted as sole lead arranger on the deal.
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