Wickes Sees Light: A Solar Takeover
Home‑improvement giant Wickes is stepping into the sun‑powered world by snapping up a majority stake in Solar Fast. This move promises to keep chandeliers off the market and rooftops gleaming.
Deal Snapshot
- Target value: £36 million
- Initial cash: £5.1 million payable upon closing
- Remaining balance: Due early next year
- Future option: Wickes can buy the remaining 49% over the next five years
Financial Takeaways
- Year‑to‑date revenue: £1.56 billion (down from previous year)
- Adjusted pre‑tax profit: £52 million (vs £75.4 million last year)
Thoughts from the Top
David Wood, CEO of Wickes: “For over half a century, the Wickes name has been a trusted ally for DIY enthusiasts. Adding Solar Fast to our lineup means we can power up our customers’ energy‑saving ambitions.”
David Draper, Founder & CEO of Solar Fast: “This partnership feels like the universe finally aligned. As a family‑run business, our dream has always been to become the UK’s go‑to for top‑quality solar installs. With Wickes on board, that goal is now on the horizon.”
Because when you mix a solid home‑repair brand with a bright solar engine, the future looks both efficient and a little bit sunny.
