Caldor Solar and Zetta Home Services will now add to the Irish arm of the Dutch private equity firm’s portfolio of businesses focused on decarbonisation.
Private equity firm Waterland Ireland has acquired a majority stake in two Irish energy-tech businesses, Caldor Solar and Zetta Home Services, in a €50m investment to expand the group.
The Irish arm of a Dutch private equity firm founded in 199, Waterland first entered the Irish market with the acquisition of nursing home operator Sliver Stream Healthcare in 2019. Its NetZero Group focuses on businesses that can help decarbonise the atmosphere.
Cador Solar is a renewable energy firm based in Co Kildare. It specialises in making solar panels for residential and commercial properties across Ireland. Following the acquisition, Waterland will add the company’s solar PV (photovoltaic) products to its portfolio.
“Once an almost wistful, but costly, idea, installing solar panels is fast becoming the cleanest and simplest way for both homeowners and businesses to see significant and long-term energy savings,” reads an announcement by Cador Solar today (13 June).
“Waterland’s new supergroup [NetZero] of energy-saving enthusiasts means that together, we can make solar power more affordable and accessible for properties across the country.”
Meanwhile, Zetta is a heat pump servicing and solar PV installation company based in Dundalk. It was founded in 2022 by Gearoid Harvey, an experienced heat pump engineer and plumber.
“As part of a €50m investment to accelerate Ireland’s transition towards renewable energy,” Cador Solar added, “Waterland Ireland is funding select companies with a shared vision: that of a cleaner, more sustainable Ireland.”
Other than the Netherlands and Ireland, Waterland is active across nine countries in Europe with more than 190 employees, including in Belgium, Germany, Switzerland, Denmark, Norway, France, Spain, Poland and the UK.
Last year, the private equity investment group supported Meath-based MTM Engineering to acquire CET Connect. More recently, it supported Germany’s Blitz 24-73 bid to acquire Frankfurt-based LifeFit Group, a leading fitness and health platform.
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