Aplicaciones Tecnicas de la Energia, S.L. (“Atersa” or the “Company”), headquartered in Valencia, Spain, is a leading manufacturer of solar electric power modules and balance-of-system components, as well as a provider of system design, engineering and integration services. Atersa manufactures the complete range of equipment that is necessary for any configuration of a solar power electricity system; from modules with mono and multi crystalline silicon cells to the various components required for a fully functional solar power system.
As a result of the challenging operational and financial conditions of Atersa’s corporate parent, AstroPower, Inc., raw material supply was restricted to Atersa. This situation forced the Company to rationalize production/output directly affecting Atersa’s financial results.
SSG was retained by Atersa and was able to attract interest from a broad array of financial and strategic buyers, both in Europe and the US. Due to the Company’s diminished raw material supply, SSG moved rapidly to effectuate a transaction. Ultimately a bid by Elecnor, S.A. was deemed highest and best and Atersa was sold in July 2004.