ATLANTA–(BUSINESS WIRE)–Bravo Infrastructure Group, LLC (“BIG”) announced today that it has acquired Radiance Solar, LLC, (“Radiance”), one of the largest commercial and industrial (“C&I”) solar engineering, procurement and construction (“EPC“) contractors in the southeastern United States, through a capital partnership with Orion Infrastructure Capital (“OIC”).
Since 2007, Radiance has become one of the largest and longest standing EPC companies in the southeast. Radiance has installed over 125 MW of solar across ground mounts, rooftops, and canopies, including systems with battery storage. Radiance also maintains a large operations and maintenance (“O&M”) business serving assets throughout the southeast. To complete the purchase of Radiance, BIG partnered with OIC, a leading capital solutions provider to middle market infrastructure businesses with approximately $3 billion of assets under management.
Steve Newby, owner of BIG commented, “We are very excited to announce the acquisition of Radiance and our capital partnership with OIC. Radiance is a leader in the commercial and industrial EPC market and the O&M market in the southeast. We look forward to working with their outstanding team on meeting the needs of the high growth C&I solar market. Radiance will be the perfect complement to BIG’s other solar platform, Sunshine Solar, LLC, the second largest C&I mechanical installation firm in the US. With OIC as a partner, both companies are strongly capitalized, and we expect both to benefit from the significant growth and tailwinds in solar deployment.”
“OIC’s capital partnership with BIG and the acquisition of Radiance represents our collective conviction on the demand for C&I and community solar systems,” said Chris Leary, Investment Partner and Head of Infra Equity at OIC, “We believe that our structured equity solution will further support environmentally innovative distributed power generation solutions for customers focused on sustainability.”
About Radiance
Founded in 2007 and based in Atlanta, Georgia, Radiance specializes in turnkey solar power installations for commercial, institutional and utility customers. Radiance also provides customized solutions for electric municipal cooperatives in addition to O&M services. The company also offers distinct services in system design and engineering, construction, solar energy consulting, and large-scale project development. Ranked among the nation’s top solar companies, Radiance has installed over 125 MW of clean, renewable solar power throughout more than 300 sites across the southeastern US and Mexico.
For more information, please visit: www.RadianceSolar.com
About BIG
Bravo Infrastructure Group, LLC is an investment vehicle wholly-owned by Steve and Kristina Newby that is focused on investing in the transitioning energy economy. BIG is the 100% owner of both Radiance Solar, LLC and Sunshine Solar, LLC. BIG is based in Atlanta, GA.
About OIC
With approximately $3 billion in assets under management, OIC invests in North America and select international markets. OIC’s unique partnership approach – for entrepreneurs, by entrepreneurs – cultivates creative credit, equity, and growth capital solutions to help middle market businesses scale and deploy sustainable infrastructure. OIC’s target investment sectors include energy efficiency, digital infrastructure, social infrastructure, sustainable power generation, renewable fuels, waste & recycling, water, transportation, and agriculture. OIC was founded in 2015 by a team of energy and sustainability veterans, successful infrastructure investors, and former asset owners and industry operators. Across OIC’s platform is a team of 36 professionals based in New York, Houston and London.
For more information, please visit: www.OIC.com
About Sunshine Solar
Sunshine Solar, LLC (“Sunshine Solar”) is one of the leading mechanical solar installers in the country, headquartered in Marietta, GA. Sunshine Solar’s customer base includes many of the top Fortune 500 companies and EPC’s nationwide, operating as a full service mechanical solar installer. From geotechnical work to driving piles, installing racking and modules for solar fields, roof-tops and parking decks, Sunshine Solar employs a highly skilled work force and is able to utilize safe work practices and quality control methods to ensure project success.
For more information, please visit: www.SunshineSolar-LLC.com
Contacts
Reyno Norval
+1 (212) 292-0345
Reyno@OIC.com
