Exclusive company gets Swinerton Renewable Energy and SOLV
- Personal equity strong American Securities has entered an agreement to obtain Swinerton Renewable Energy, the renewable energy division of Swinerton Builders, and wholly-owned subsidiary SOLV from Swinerton Incorporated.
Ranked the no. 1 solar contractor in the U.S. on the 2021 Top Solar Contractors checklist by Solar energy World, SRE has actually constructed more than 7 GW of PV solar capacity in 26 states. The sustainable subsidiary provides solar engineering, procurement and construction (EPC) services for Swinerton's existing industrial clients prior to rotating to the utility market. SOLV was established in 2012 to provide procedures and maintenance (O&M) solutions both in-house and to third-party plants.
" Our group is excited to shift SRE and SOLV Inc. to come to be a solitary, independent company focused on U.S. solar and storage infrastructure," stated George Hershman, head of SRE and SOLV. "Our team believe that with American Securities' support and collaboration we will remain to give our consumers with unequaled service and assistance. Our administration team is committed to remaining to advance the growth of our renewables services and continue to lead the energy shift in the USA."
This deal will incorporate Swinerton's existing EPC and O&M solution teams under one firm name, SOLV Energy. The present management team and staff members of SRE and SOLV will certainly transition to SOLV Energy.
" We are thrilled to companion with George and the SOLV Energy team as they remain to carry out on their winning approach to be the leading solar EPC and O&M carrier in the United States," stated Kevin Penn, a managing supervisor of American Securities. "Investing in market-leading business servicing our country's energy shift to renewables is a priority for American Securities, and our financial investment in SOLV Energy advances our firm's management in the solar power industry. George and the talented SOLV Energy group have a solid track record of excellence in task execution, client service, and exclusive innovation in the sector and we expect helping them keep this industry leadership."