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Strata Clean Energy Acquires Crossover Energy Partners

Nov 15, 2022•about 3 years ago

Acquiring Company

Strata Clean Energy

Acquired Company

Coverdash

DurhamNew YorkSolarRenewable EnergyEnergyInsuranceInsurtechFinancial Services

Description

Strata Clean Energy (Strata), a nationwide provider of utility-scale clean energy projects, today announced its acquisition of Phoenix-based Crossover Energy Partners (Crossover), a clean energy solutions company experienced in developing end-to-end energy transition products for utilities and large energy users. This acquisition expands Strata's offerings and execution capabilities by incorporating Crossover's customer origination and power offtake competencies and other proficiencies that deliver on renewable energy initiatives, decarbonization strategies, and the development of new technologies like green hydrogen.

Company Information

Company

Strata Clean Energy

Location

Durham, North Carolina, United States

About

Strata Clean Energy, LLC, and its affiliates (collectively "Strata") are a vertically integrated solar and storage development, engineering, procurement, and construction (EPC) and operations & maintenance (O&M) company. Strata has deep utility experience with more than 170 projects in operation, nearly 8 gigawatts of PV solar and 25GWh of standalone storage in development, and 4.2GW under management across the United States. Strata is focused on delivering best-in-class cost of ownership by imposing industry-leading quality assurance standards on our global manufacturers and suppliers, reducing risk, increasing efficiency, and maximizing cost-competitiveness for our customers.

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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