Insolvent PV equipment and wet processing specialist, RENA GmbH has been acquired by Swiss private equity firm, Capvis for an undisclosed sum.

RENA had recently said it had received new orders in the fourth quarter of 2014 totalling €30 million and that management had been working with major creditor groups on the restructuring strategy, which it said was progressing well.

In a financial statement, RENA said that it had received enquiries from a number of companies interested in the business but the deal with Capvis provided the best opportunities for the company.

Capvis will acquire all of the operating assets of RENA, including its existing order book and transfer of employees.

Further details of the transaction were not disclosed.