April 09, 2013 - Advanced Energy Industries Inc. announced the acquisition of REFUsol Holding GmbH. The purchase price was approximately 59 million euros in cash, after assuming 9 million euros of debt and reducing net working capital by 1.8 million euros. There is the potential for an earn-out of up to 10 million euros, payable in a combination of cash and stock, if certain stretch EBITDA goals for the combined Solar Energy business are achieved in the first 12 months after closing.

Advanced Energy Industries expects the acquisition to accelerate its Solar Energy revenue to greater than $400 million in 2014 and to be accretive to earnings in the next 12 months.