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The business is an installer of photovoltaic solar panel systems for residential and commercial customers in California. Ancillary services include ongoing maintenance & servicing, installations of EV charging stations and battery backup systems for residential and commercial customers.
· YE2020 revenue of $16.5 million, a YOY increase of 23.4% from FY 2019 despite the COVID-19 pandemic
· Consistent management of costs translating to an average gross profit margin of 34.8% of the last four years
· Highest rated solar company in its geographic market due to its impeccable client service
· Tenured, dedicated, and highly experienced management and staff
· Strong reputation in the industry and served markets
· Investment in robust internal systems, such as SalesForce and office tenant improvements, which have provided efficiencies and streamline processes
· Strong continued demand forecasted by industry experts in the global solar energy market projected to reach $223.3 billion by 2026 with a CAGR of 20.5% from 2019 to 2026
· Invest in further marketing and advertising efforts to build industry and brand awareness leveraging past client referrals
· Continue to grow the business’ sales department to promote new business development
· A dedicated service department to facilitate brand awareness set for 2021
· Sales performance can be improved via ongoing training, detailed analysis on improvement of closing ratios, and increasing the attachment rate of back-up battery systems to solar sales
· Central California
· The business currently serves the residential and commercial markets in the central California region. Commercial clients include farming, hospitality, and retail fuel distribution.
· The business operates from a 10,000 square-foot facility leased from an unrelated third party. Approximately 4,000 square feet is office space, and 6,000 square feet is warehouse space. The space buildout is flexible and can be shifted easily to accommodate future needs.
· Ownership is seeking an acquirer to take the business to the next level and eventually allow for owners to exit. One shareholder is seeking retirement while the remaining two shareholders are open to various deal structures in order to facilitate a transaction.
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