People and property business Gentoo has today acquired solar panel manufacturer and specialist glass-maker Romag.

An AIM listed company, Romag, based in County Durham has traded since 1943 and serves the solar PV (photovoltaic), security glass, architectural glass, and transport glass market sectors. One of only two PV assembly companies in the UK, it is regarded as one of the leading lights in the region’s bid to become a hub for the renewable energy sector.

Gentoo is a people and property business, predominantly operating in the housing sector. Sunderland’s sixth largest employer, Gentoo is a profit for purpose organisation which aims to make a positive mark on the future by investing in people and property.

As a construction company, housing developer and the main RSL in Sunderland, managing and maintaining around 30,000 properties, Gentoo has long been an advocate of sustainable building. Gentoo also aim to go beyond compliance with legislation and be at the forefront of best green practice.

This acquisition means that Gentoo can now add to its already vast customer offering and gain competitive advantage in an increasingly growing PV market.

Romag currently employs 161 people who will TUPE transfer over to Gentoo, and the acquisition includes the company’s trades and assets.

Peter Walls, Gentoo Group Chief Executive said: “This acquisition brings together two complementary organisations at a time when we are looking to diversify and grow. It will only build upon our already strong environmental credentials.

“We believe the low carbon market will continue to be a strategic area of growth and this puts us in a unique position to take full advantage of opportunities in our sector.

“Solar energy is a huge agenda with global governmental targets and it is great to be playing a part in it whilst doing our bit for the planet in the process.”

REA sector specialist on solar, Ray Noble, said: “This is excellent news for Gentoo, the acquisition is aligned with both Gentoo’s business aims and the future of the construction industry.

“Solar PV has already proved to be a success on buildings in the UK and the renewable energy sector provides fantastic growth opportunities moving forward.”

Gentoo will now be working closely with the Romag management team to ensure a smooth transition in to its business.