Wickes Group PLC - Watford, England-based building supplies retailer - Completes acquisition of majority stake in Solar Fast. Says it has received FCA approval.

In March, Wickes agreed to buy a majority 51% stake in Gas Fast Ltd, the Castleford, England-based parent company of solar installations firm Solar Fast. The stake has been bought from the company’s founders, and Founder & Chief Executive Officer David Draper will continue to lead it. Wickes has the option to buy the remaining 49% over the next five years.

Solar Fast had pretax profit of £3.9 million in the financial year that ended April 30, 2023, on revenue of £33.1 million. Over 2022 and 2023, Solar Fast installed more than 3,700 solar projects in customer homes, Wickes said.

Current stock price: 144.04 pence

12-month change: up 9.3%

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