Solar equipment distributor will be acquired by electrical wholesale distributor City Electric Supply Company (CES) by the end of this month, subject to regulatory and other approvals and conditions.
“This agreement enables us to focus on delivering even more innovative solutions to the solar energy market,” said Soligent CEO Jonathan Doochin. “We appreciate the entrepreneurial culture of the CES team and we’re confident they’ll provide the right environment for our talented team to accelerate our vision to make a positive impact on the world through renewable energy.”
Following the close of the transaction, Soligent will be a subsidiary of CES. Soligent will take on leadership of CES’s Renewables division and work closely with its extensive branch and distribution network to provide a wide range of solar product offerings. This will further accelerate the companies’ over 50% growth rates to date.
“We are committed to providing access to renewable energy equipment and know Soligent shares our passion for delivering best-in-class experiences to customers,” said Thomas Hartland-Mackie, CES’s President and CEO. “We are excited to team up and advance our shared goal to provide sustainable options to our communities through our combined expertise and experience in the residential and commercial solar energy space.”
Hartland-Mackie added: “We are eager to explore untapped opportunities and leverage our complementary businesses to provide exciting new offerings to customers.”
News item from CES