Kinematics, American company specialized in intelligent motion control, has announced the signing of the definitive agreement for acquire 100% of P4Qa Biscayan company that develops IoT solutions for solar tracking systems and medical diagnostic devices, as well as a supplier of advanced electronics for sectors such as railways, automotive or industrial. This operation is expected to be effective early 2025once the validations of the regulatory entities of Spain and the European Union are passed.
Kinematics is a portfolio company of Angeleno Group, an investment firm based in the United States, which has an extensive track record in solutions for the energy transition. With the addition of P4Q, it will offer global support through six production plants and 7 service centers, covering key markets in North America, Europe, Asia and Latin America. Citibank and TD Securities led the financing of the transaction. In this process, Kinematics is represented by Proskauer Rose LLP and Uría Menéndez. P4Q shareholders are represented by Garrigues and advised by PWC.
In recent years, P4Q has doubled its turnover to reach 90 millions of euros in 2023. This growth has been possible thanks to the support of the Talde Private Capital fund, which since the end of 2018 has been the largest shareholder. “With Talde we have reinforced our diversification strategy, attracted talent and inaugurated our 4,500 m2 headquarters in Alonsotegi, as well as advanced service centers in Latin America. Now with Kinematics, we will continue creating value for our clients and the people on our team,” highlights Aitor Alapont, CEO and Co-Founder of P4Q, who will continue in the current development of his functions, as well as the rest of the Management Committee.
P4Q, through its Suntrack® brand, has more than 900,000 solar tracker controllers deployed worldwide, which is equivalent to an installed power of 50 GW. For its part, Kinematics has more than 2.8 million actuators (84 GW of power). The combination of Kinematics and P4Q capabilities means an opportunity for new photovoltaic projects and also for the modernization of active solar fields with obsolete systems.
“The signing of this agreement is a key milestone for Kinematics as we continue pushing the boundaries of solar tracking technology” says John Payne, CEO of Kinematics. “P4Q’s expertise in advanced electronics combined with Kinematics motion control systems will allow us to provide a comprehensive solution to our customers. “Our mission is to accelerate the adoption of solar energy globally by maximizing the performance and accuracy of solar tracking in large-scale photovoltaic projects.”
Renewable energies
Founded in 1996, Kinematics is specialized in the design and manufacturing of slewing drives and actuation technology. With a strong focus on renewable energy, it supplies engineering systems, sensors, gears and controllers that maximize the efficiency of solar installations around the world, along with applications for telecommunications and satellite stations sectors.
The company is headquartered in Phoenix, Arizona, and operates globally with facilities in Asia and North America. Kinematics is a portfolio company of Angeleno Group, a venture capital investment specialized in renewable energy and climate solutionsbased in the United States.
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