Spruce Finance may be headed to a sale

Spruce

In March, pv magazine USA broke the story of Spruce finance laying off an unknown number of workers in mid February. Spruce has kept a tight lid on changes within the company, however last week Power, Finance and Risk magazine reported that Goldman Sachs has been retained “for a potential sale” of the company.

Greentech Media, citing un-named sources, has further suggested that Spruce “has been trying to sell itself” for the past three quarters, and noted that resumes from both laid-off and active employees have been showing up on the desks of these sources.

Spruce itself has declined to either confirm or deny these rumors, instead giving a different reason that it hired Goldman Sachs. “We’re working with Goldman to explore innovative financing structures to lower the cost of capital for residential solar and home efficiency financing,” reads a portion of the statement from Spruce.

The statement also notes that as a private company Spruce Finance is not under any obligation to provide further information.