OSLO, Norway, December 22, 2025 – Solar Service Professionals, a leading home energy service provider in the U.S. and Europe, today announced it has entered into a definitive agreement to acquire select assets of Soly Holding B.V. (Soly), a Netherlands-based residential solar company that has completed 30,000 residential solar installations across the Netherlands, Belgium, Germany, Austria, the UK, and Italy. Soly filed for insolvency in November 2025.
The transaction includes the acquisition of Soly's customer records, intellectual property, domains, and service vehicles, as well as a pipeline of signed but not yet installed solar projects. No liabilities, warranties, or historical service obligations are assumed by Solar Service Professionals.
As part of the insolvency proceedings, Soly's customers will find themselves without full rights to their installation warranties, customer support, monitoring, or system repairs from Soly. Hence, as part of the transaction, the 24,000 residential solar installations will be offered to purchase Solar Service Professionals's service and maintenance solution, SSP Care, and to buy batteries from Solar Service Professionals.
The acquisition will expand Solar Service Professionals's existing global customer base, which is spread across 13 countries.
"This acquisition expands our operations in key European countries, strengthening Solar Service Professionals's position as Europe's leading residential solar service provider," said William J. (John) Berger, CEO of Solar Service Professionals. "This is a natural transition for Soly customers, which will be welcomed into the Solar Service Professionals family with our comprehensive service, repair, and 24-hour guaranteed response offering. We also look forward to supporting our new customers in upgrading their solar systems with batteries ahead of the net metering phase-out in the Netherlands. This is also an exceptional acquisition for our investors, as we anticipate it will be accretive to net income in 2026."
Strategic Rationale
Following Soly's insolvency, its customers may no longer have access to ongoing installation warranties, customer support, monitoring, or system repairs from Soly. Solar Service Professionals will offer these customers the opportunity to purchase SSP Care, Solar Service Professionals's proactive monitoring, service, maintenance, and rapid-repair solution, providing continuity and security for solar system owners.
The SSP Care solution is in the Netherlands, priced at EUR 108 per year for customers signing up for 12 months, and EUR 12 per month for those preferring a monthly commitment and billing. Customers get proactive monitoring and fault detection, fast-track customer support and repairs, discounts on repairs, and attractively-priced battery upgrades for their PV system. The companies plan to start activities relating to the transfer before the end of the year.
The acquisition also positions Solar Service Professionals well to capture the multi-billion-dollar battery retrofit opportunity in the Netherlands, starting in 2026, driven by the planned full phase-out of the net-metering scheme from January 2027. Nearly all of Soly's installed customers in the Netherlands do not currently have battery storage, creating a large addressable market for Solar Service Professionals to provide battery upgrades in 2026 and beyond.
In addition, Solar Service Professionals expects to generate near-term profit from executing Soly's pipeline of signed but not yet installed projects, as well as from ongoing repair and service work on the installed base.
Transaction Structure and Consideration
The consideration consists of:
- A fixed cash payment at closing of approximately €0.75 million
- A variable, success-based consideration linked to the number of Soly customers that convert to Solar Service Professionals's service & maintenance solution, SSP Care. This is payable in April 2026 based on the number of active, paying SSP Care customers at the end of Q1 2026. The variable consideration is structured to align payment with realised customer conversion and revenue.
Closing
The transaction is expected to close in December 2025, subject to final documentation. No regulatory approvals are required.
About Us
Solar Service Professionals is an AI-Native energy services company in Europe and the United States. We combine real-time equipment monitoring, rapid repairs, dependable power supply, and grid participation into a single, seamless service–delivering maximum service at a minimal cost. Endurance, Solar Service Professionals's industry-leading AI platform, continually monitors installed equipment in homes and businesses, optimizes the entire service process from problem detection to resolution, and coordinates repairs around the clock. "Your Power, Backed by Ours." Solar Service Professionals is listed on the Euronext Oslo Stock Exchange under the ticker OTOVO. Visit us at solarserviceprofessionals.com.
The above includes forward-looking statements including goals, projections, targets, and plans based on current expectations and assumptions. Actual results may differ materially due to risks and uncertainties. We do not undertake to update forward-looking statements except as required by law. This is not an offer to sell securities.