Nextpower Announces Agreement to Acquire Zimmermann PV-Steel Group, Strengthening Solar Product Portfolio and Market Footprint

Nextpower (Nasdaq: NXT), a leading provider of solar and power technology solutions, announced it has entered into a definitive agreement to acquire Zimmermann PV-Steel Group, a Germany-based solar technology provider with more than 20 gigawatts (GW) deployed and deep market presence in Germany, one of Europe’s largest solar markets. Zimmermann was founded in 1950 and expanded into the solar industry in 2009, delivering more than 2,500 solar projects across 58 countries.

By broadening its product portfolio and deepening its regional presence, this acquisition will accelerate Nextpower’s ability to deliver world-class support and comprehensive solutions to solar developers and EPC customers across Europe. The total consideration for the transaction is comprised of cash and stock of up to €330 million, or approximately $378 million based on exchange rates as of June 20, 2026, and is subject to customary closing conditions including required regulatory review. The transaction is expected to close in the second half of Nextpower’s fiscal 2027.

“This transaction represents the next chapter for Nextpower internationally,” said Dan Shugar, founder and CEO of Nextpower. “With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capability in Europe and beyond. Zimmermann’s structural solutions, including fixed tilt, carports, high-density trackers, innovative agriPV solutions, and floating PV will expand our European portfolio to support a broader range of land-use, permitting requirements, and regional use cases. We see a clear opportunity to combine Zimmermann’s strong product engineering and execution capabilities with Nextpower’s bankability and complete product platform to better meet the needs of customers in Europe and accelerate profitable international growth.”

“Zimmermann has built its business by staying customer-focused and delivering high-quality engineered solutions for specific project needs,” said Robert Zimmermann, owner and CEO, Zimmermann. “In Nextpower, we see a partner with highly complementary technologies, geographic footprint, and customer focus. They bring scale and complementary solutions and capabilities that will help us serve our customers more broadly while preserving the local relationships and engineering focus that have defined our business. We see this as an exciting next chapter for our company and employees, as well as for our customers, suppliers, and partners across Europe.”

Fixed tilt represents approximately 50 percent of Europe's utility PV market today according to S&P Global, especially in markets such as Germany, France, and Poland. This transaction, together with Nextpower’s recent international launch of NX Gemini™, a two-in-portrait (2P) tracker, is expected to more than double Nextpower’s addressable GW opportunity in Europe.

Following the transaction close, the company is expected to operate as “Zimmermann PV, a Nextpower Company,” preserving continuity for customers, employees, and regional market relationships while enabling the business to scale through Nextpower’s global footprint.

To learn more about this announcement, see Nextpower’s investor presentation or visit the Nextpower stand 580 (Hall A5) at The Smarter E Europe and Intersolar Europe tradeshow being held in Munich from June 23-25.

Adjusted EBITDA excludes interest expense, adjustment for taxes, depreciation, stock-based compensation, net intangible amortization, and acquisition-related costs. A quantitative reconciliation of adjusted EBITDA to the most comparable GAAP measure, net income, is not available without unreasonable efforts.

Nextpower | www.nextpower.com

Zimmermann PV-Steel Group | www.pv-steel-group.com