Eternal Sun, a provider of solar module testing solutions, has acquired the key assets of WAVELABS, a company that develops LED-based solar simulators for solar cell measurement. The combined product portfolio is expected to offer a full spectrum of solar testing technology solutions.
The acquisition was structured as an asset deal, resulting in the formation of a new subsidiary, WAVELABS Eternal Sun, which will be a wholly owned subsidiary of Eternal Sun Group and will be based in Leipzig, Germany.
This new company is expected to continue operations at the Leipzig site, led by a team of experienced professionals across R&D, manufacturing, and sales. The WAVELABS and Eternal Sun brands will remain independent.
The acquisition was made possible following the recent investment by Bolster, a Dutch long-term investment firm, into Eternal Sun. They acquired the stake of Vermec and the ABN AMRO Sustainable Impact Fund, which invested in the start-up and scale-up phases of Eternal Sun, and have grown the company into the mid-size market segment.
The Bolster investment provided additional capital for the acquisition of WAVELABS.
Eternal Sun has claimed to have a track record of integrating complementary solar metrology providers. In 2016, Eternal Sun also acquired and integrated the testing division of Spire Corporation, a Massachusetts-based company.
“With WAVELABS joining the Eternal Sun family, we can offer our customers an unmatched range of cell and module testing solutions. Both companies share a passion for precision, innovation, and service. Together, we will shape the future of solar quality assurance and accurate characterization,” said Florian van Rijn van Alkemade, CEO of Eternal Sun.
According to Mercom’s recently released Q1 2025 Solar Funding and M&A report, a total of 19 solar corporate M&A transactions were recorded in Q1 2025, compared to 20 transactions in Q4 2024, and 10% lower compared to 21 solar M&A transactions in Q1 2024.
