Colibri Capital, a prominent player in the construction of solar plants in Distributed Generation (DG), has announced the acquisition of Sirius, a leading seller of photovoltaic kits based in Recife, Pernambuco. The acquisition involves a substantial investment of R$30 million and marks Colibri Capital’s strategic entry into the DG equipment distribution market, significantly enhancing its geographic footprint as Sirius operates in 24 of Brazil’s 26 states.
Carlos Eduardo Barros, President of Colibri Capital, highlighted the strategic benefits of the acquisition: “Acquiring Sirius allows Colibri Capital to penetrate and expand in the solar energy sector with an arm that it did not already have in its portfolio of companies. And with the detail of not starting from point zero, since Sirius has an active business base.”
Colibri Capital has a history of substantial investments in the energy sector, with companies like E1 Energia, Eco Soluções, and GDSolar under its umbrella. Barros emphasized the synergy, stating, “With Sirius, this ecosystem can benefit from the feedback of services, without having to resort to a company outside the group. Sirius has built a strong brand with rapid growth. With the arrival of Colibri, it could become the biggest player on the market.”
Founded in 2019, Colibri Group has an annual revenue exceeding R$200 million and has invested over R$1 billion in the energy sector. The company operates 100 solar plants with more than 1 million panels installed nationwide.
Bruno Fraga, CEO of Sirius, expressed optimism about the acquisition: “With Colibri, we want to become a reference in the Northeast market, starting from Pernambuco, bringing more capillarity to the distribution network and expanding stock potential. The market revolves around those who have ready delivery. Furthermore, we can now forge partnerships with the biggest players in the world market and start working with other companies in the group that operate in the solar energy sector, forming an ecosystem for exchanging information and accessing suppliers.”
Fraga added, “We will also have an entire back office six times the size of our office, to deal with all legal, administrative, HR issues and all the structure that is needed to develop in an even more orderly manner.”
Sirius, established in 2019 in Pernambuco, quickly expanded its reach in the North and Northeast states. The company achieved a revenue of over R$110 million in the past three years and was recognized as the 3rd largest SolarEdge distributor in 2022. Additionally, it ranked 1st in the “10 Best Solar Panel Brands of 2023” list by the HPG portal. Sirius’s portfolio includes partnerships with top global suppliers such as Deye, ZNSHINE, and SolarEdge.
This acquisition positions Colibri Capital to leverage Sirius’s established market presence and infrastructure, fostering further growth and dominance in the renewable energy sector.
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