Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of its client, SUNworks, headquartered in Roseville, California, by Solar3D, headquartered in Goleta, California. The acquisition closed on January 31, 2014.
SUNworks is a California based solar corporation whose story began with a group of solar industry innovators and experts setting out to utilize and share their 18 years of experience with homeowners, ranchers, and business owners. The company is now one of the fastest growing solar photovoltaic firms with hundreds of solar installations ranging from 2.5kW to 1MW. In 2012, SUNworks was named to Solar Power World's Top 100 solar contractors, a designation based on total megawatts installed. With the state and federal government paying up to nearly half the cost of installation, plus the constant rise of electric rates, now is the perfect time to go solar.
Managing Directors Stephen Crisham and Lori Galloway led the Generational Equity deal team that advised SUNworks on the transaction. "This provides several levels of synergies for the buyer and gives the sellers access to growth opportunities at a faster pace" said Stephen Crisham. Solar3D, Inc., is developing a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. An innovative wide-angle light collection feature on the cell surface allows for the collection of sunlight over a range of angles during the day. Jim Nelson, CEO of Solar3D, states, "The opportunity represented by SUNworks allows us to immediately participate in the fastest growing segment of the solar industry, while building a growing base of potential customers for our proprietary Solar3D Cell."
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