6/5/2010
NEWS BRIEFS
Hilti Acquires Solar Mounting Systems Maker Unirac

Hilti Group extended its North American presence in the U.S. solar market by acquiring Albuquerque-based Unirac Inc for an undisclosed sum.

Incorporated in 1999, Unirac provider of solar mounting solutions and employs 100 workers. Since 2006 the company has grown its revenues profitably at an annual growth rate of approximately 55%.

The acquisition gives Hilti significant share in the photovoltaic mounting business in North America while helping Unirac extend its reach through Hilti’s global presence.

“As we strengthen our position in a challenging economy, we are investing in new

business opportunities like solar where there is significant growth potential,” said Hilti CEO Bo

Risberg. “Our companies are an ideal fit because together we can offer a full range of solutions for customers who serve the residential, commercial and utility markets.”

Unirac will continue to be based in Albuquerque and operate under its existing name. CEO Doug May will continue to lead the company.

Hilti purchased Unirac from the Global Environment Fund (GEF), a U.S.-based private-equity firm. ©2010 GlobalFastenerNews.com

Related Links:

• Hilti

• Unirac