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Nelnet Acquires Solar Construction Firm Grne Solutions

Jul 05, 2022•over 3 years ago

Acquiring Company

Nelnet

Acquired Company

Skeena Resources

VancouverEnergySustainabilitySports

Description

Nelnet (NYSE: NNI) announced today a controlling investment in affiliates of GRNE Solutions, LLC (GRNE), known as GRNE Solar, a leading Midwest solar engineering, procurement, and construction (EPC) firm. In addition, Nelnet acquired certain solar assets from an affiliate of GRNE, some already generating power and others currently being constructed. The transaction closed July 1, 2022.

Company Information

Company

Nelnet

About

Nelnet (NYSE: NNI) is a publicly traded diversified financial services and technology company focused on offering educational services, technology solutions, professional services, telecommunications, renewable energy, and asset management. Nelnet has nearly $21 billion in assets, including a $17.6 billion loan portfolio, and services almost $560 billion in loan assets. Since 2018, Nelnet Renewable Energy has funded or committed to the construction of more than $1.5 billion of solar energy projects via tax equity financing. From this foundation, the company has broadened its engagement in the renewable energy sector by adding administrative and management services for tax equity investments, community solar subscriber acquisition and management and solar development. To learn more visit NelnetInc.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed