After filing for bankruptcy in 2022, inverter manufacturer FIMER has now been acquired by the Clementy Group for “rescue and relaunch.” The proceeding is still subject to the decision of the Court of Milan.
FIMER says the acquisition will provide the company with the necessary financial resources for the prosecution of its activity, satisfaction of creditors, staff employment and relaunch.
FIMER previously acquired ABB’s solar inverter business in March 2020, just as the global pandemic was coming into view. FIMER attributed the bankruptcy thereafter to “the shortage of components and raw materials on a global scale, all factors that have contributed — along with other management-related ones — to the emergence and subsequent worsening of the cash liquidity and to the slowdown of the production activities.”
Fimer buying out the low end residential inverter manufacturing of ABB seemed like a good move. Now that ‘Fimer’ has another finance resource in Clementy Group, this time around will Fimer vertically integrate into an entity that can take raw materials in one door and manufacture their inverter offerings out the other door, or will this be a case of doing the same thing over again, which is the definition of insanity.