Hilti, a Liechtenstein-based industrial technology company, has acquired Unirac, an Albuquerque, N.M.-based solar mounting solutions company to expand into the growing solar field in utility, commercial and residential solar projects.
New York-based advisory shop Greentech Capital Advisors was financial advisor to Unirac, a portfolio company of private equity fund Global Environment Fund. GEF received some 14 times what it paid for Unirac in 2006, which was estimated at $8-10 million. The transaction closed yesterday.
“We’re seeing big interest from large corporations that believe in growth in the sector,” says Michael Molnar, partner with Greentech in New York. “There are real returns to be had in clean tech.”
Hilti is a privately-held company providing technology to the global construction industry. Greentech advised Ausra as it was sold to French nuclear power giant AREVA in February (PFR, 2/10).
