Novasource Power Services Acquires First Solar'S Australian O&M Business

Oct 04, 2022•almost 3 years ago

Acquiring Company

NovaSource Power Services

Acquired Company

First Solar

Chandler

TempeRenewable EnergyEnergy

Description

NovaSource Power Services ("NovaSource" or the "Company"), a global leader in solar operations and maintenance ("O&M") services and a portfolio company of Clairvest Group Inc. ("Clairvest", TSX: CVG) and OMERS Private Equity, the private equity arm of OMERS, announced its global operations expansion into Australia with the acquisition of the Australian O&M assets of First Solar, Inc., which closed on September 30, 2022.

Company Information

Company

NovaSource Power Services

Location

Chandler, Arizona, United States

About

NovaSource Power Services, a portfolio company of Clairvest Group Inc. ("Clairvest", TSX: CVG), is a global O&M services provider for renewable energy assets. NovaSource seeks to maintain a world-class culture of safety and integrity, while developing lasting partnerships with our customers and team members. As an independent, O&M-focused company, NovaSource is poised to offer even greater value in the design, maintenance, and management of our customers' projects.

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Based on deal data

Integration timeline

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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

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