Beacon Solar solar distributor is sold to BayWa re – pv magazine USA

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Renewable energy developer BayWa re said it has acquired Beacon Solar, the solar distribution division of Beacon, a publicly traded roofing distributor. The conditions were not disclosed.

Beacon’s Solar Products business consists of four dedicated branches and six shared branches where it distributes solar products, including photovoltaic panels, to residential and commercial contractors. The business was part of Beacon’s larger acquisition of Allied Building Products in 2018. During the fiscal year ended September 30, 2021, Beacon Solar Products generated net sales of $ 111 million , net income of $ 2.6 million and adjusted EBITDA of $ 3.7 million.

Beacon Solar will be integrated with BayWa re Solar Systems LLC, the US solar energy distribution company. The addition of Beacon Solar is expected to increase the number of BayWa re warehouses from six to 16 and reduce delivery times to many parts of the country, including many key US solar markets. The combined company will explore offering solar and roofing products nationwide.

BayWa re has brought more than 4 GW of renewable energy capacity online and manages more than 10 GW of assets. Beacon was founded in 1928 and is a Fortune 500 listed distributor of roofing materials and building products in North America, operating more than 400 branches in all 50 states and 6 provinces of Canada.

Global Power Partners acted as sole financial advisor to Beacon, and Sidley Austin LLP acted as legal advisor to Beacon in connection with the transaction. Eversheds Sutherland (US) LLP acted as legal counsel to BayWa re

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