Lexence has advised Otovo on its acquisition of certain assets from Soly.
Otovo, a leading Swedish supplier of solar energy and batteries in the US and Europe, entered into an asset purchase agreement late December 2025 to acquire certain assets from Soly. Soly is a Dutch provider of residential solar energy. With this acquisition, Otovo strengthens its position in Europe and responds to the growing demand for battery storage in the Netherlands. The vast majority of Soly’s installed customers in the Netherlands currently lack battery storage, presenting a significant opportunity for Otovo to offer battery upgrades. In addition, Otovo also anticipates short-term profitability by delivering Soly’s backlog of signed projects awaiting installation, alongside continued revenue from maintenance and repair services for the existing installed base.
The Lexence team consisted of: Mathijs van Doormalen and Rutger Aleva.
Read the full press release here.
