Waterland Ireland adds two energy-tech companies to portfolio

Dutch private equity firm Waterland Ireland has added two energy technology businesses to its Irish portfolio of businesses focused on decarbonisation.

The firm acquired a majority stake in Kildare-based Caldor Solar, which specialises in solar panel installations, and Zetta Home Services, specialising in heat pumps.

The deals are part of a €50 million investment which expands its Net Zero group, and follows its aquisition of Gaffney Mechanical and O’Connor Heating and Plumbing last year.

Waterland was founded in 1999 and first entered the Irish market in 2019, aquiring nursing home operator Silver Stream Healthcare.

Cador Solar makes solar panels for residential and commercial properties across Ireland.

In a statement following the announcement, Caldor Solar said: “Thanks to the acquisition, employment among NatZero Group members has risen to almost 550 people.”

“Waterland’s new super-group of energy-saving enthusiasts means that together, we can make solar power more affordable and accessible for properties across the country.”

As well as the Netherlands and Ireland, Waterland is active in nine other countries including Spain, France and Germany.