The Solar Cloth Company (SCC) has announced a merger with Base Structures in a deal that sees the fabric structure specialist become a wholly-owned subsidiary of the solar fabric developer.
Financial details for the deal were not disclosed, but the companies confirmed they would continue to operate under their existing brand names.
Speaking to BusinessGreen, SCC's chief operating officer Joss Marsh said the deal would see Base become a wholly-owned subsidiary, taking the overall group's headcount to around 40 staff and its revenues to around £5m.
He said Base Structures has a "great pedigree and an amazing reputation for delivering fabric structures, many of which feature in environmentally-focused projects". He added that SCC would bring the ability to "energise" Base's designs, while the new subsidiary would provide enhanced design and engineering skills for the expanded group. "We see it as a good marriage," Marsh said.
Base has designed, manufactured and installed a number of high profile fabric structures, such as the 'Up at the O2' Walkway on the Millennium Dome, the London 2012 Basketball Arena, and Ben Ainslie's Racing Headquarters at Portsmouth. Meanwhile, SCC has emerged as one of the dominant players in the emerging market for solar car ports, where lightweight solar fabric is used to generate clean power for charging electric vehicles and powering lighting, CCTV and parking management systems.
The two companies hope the merger will provide a boost for the nascent solar fabric market.
"There is huge potential for public and private business with large car parks, such as retail, hospitals, universities, airport parking, business parks and local government authorities to reduce their energy bills through solar generation and meet their carbon footprint goals," said Mike Staplehurst, chief executive at SCC, in a statement. "At present, the price is too high and the structures too utilitarian and inflexible. Our merger with Base Structures means we can build light weight, adaptable and beautiful structures with a realistic business case - making solar generation possible where it wasn't before. In addition, it will help companies begin to address the infrastructure deficit for the growth in electric vehicles."
His comments were echoed by managing director at Base, Chris Ives, who agreed the merger would help cut the cost of solar fabric installations. "Through joining with The Solar Cloth Company and their extensive understanding of light-weight solar generation we will be able to offer our customers something not yet on the market - cheap, green energy that doesn't compromise on aesthetics and doesn't cost the earth," he said. "That's a really exciting prospect."
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