Company at a Glance

Founded 2020
Headquarters Central IL
Industry Solar developer
Area of Operations Illinois
Specialization Commercial and industrial customers
Revenue (2023) $10 million
EBITDA $5 million

Company Overview

  • The Company is based in Central IL. It is the fastest growing full-service distributor, installer and integrator of renewable and energy saving products, serving central Illinois.

  • The Company’s goal is to help customers: i) reduce and conserve energy, ii) replace and upgrade to newer and more efficient products, iii) become more energy independent

  • The Company is highly experienced, completing 1,100 jobs over the last six years.

  • The firm organizes installation through a network of contractors, allowing it to scale rapidly. And become one of the top 10 solar installation companies in Illinois.

Transaction Rationale

  • The Company has grown dramatically since its founding. It is currently at capacity with more sales opportunities than it can handle and is looking for a partner to provide support to continue explosive growth.

  • New hires in sales, technical, customer support, and back office will build out human capital infrastructure.

  • Current management happy to stay with the company during a transition period to ensure sales stability, and migration of know-how and regulatory contacts to buyer.

  • Resulting business would be an ideal platform to consolidate Illinois renewable energy.

Key Competitive Highlights

  • The company is extremely asset light, outsourcing contracting to a network of proven contractors.

  • Unique among its competition, it receives payments for renewable energy credits directly, then remits them to customers. This dramatically reduces credit risk.

  • Focus on larger customers has allowed the firm to scale rapidly, with customer service able to spread costs of typically larger project costs.

  • Cost advantage has led to sustained high EBITDA margins (40-50%) and strong operating cash flow.

Industry Overview

  • The Illinois Power Agency developed a Climate Action Plan in 2022 as a roadmap to zero greenhouse gas emissions by 2050.

  • This includes 100% renewable energy by 2050, which drives credits for solar through the foreseeable future.

  • Industry is divided into segments with the firm being a dominant player in the commercial, industrial, agricultural segment.

Financial Summary (USD millions)

2021 2022 2023








Current Assets

Net Fixed

Total Assets










Liabilities 0.1 0.7 0.1
Equity 4.5 2.1 8.9

To receive additional information please contact Andrew Southwell,, 314-750-7207