Magen eco-Energy acquired UMA Solar
Solar thermal supplier Magen eco-Energy from Israel has acquired 100 percent ownership of UMA Solar from partner Victor Eyal. UMA Solar manufactures and distributes solar products for residential and commercial applications in the United States. For more than 30 years, Magen eco-Energy and Eyal shared the ownership of UMA Solar and its affiliates . “We have seen a tremendous opportunity for growth in the US solar thermal market,” says Magen eco-Energy CEO and UMA Solar Chairman, Mati Bavli. “We believe the solar thermal industry in the United States is still at the ground floor level. The acquisition of UMA Solar creates new growth opportunities.”
According to UMA Solar CEO and President Victor Eyal, the acquisition gives the company the ability to expand aggressively, further maturing as the nation's top solar thermal manufacturer and distributor. He retains his position as CEO. UMA Solar features products including the solar pool heating system Heliocol, the domestic water heating system Solene and the photovoltaic system Heliolectric. The company offers its products through a network of more than 700 dealers. Five distribution locations are located throughout the United States.
