Sungevity is back, and with a vengeance. Less than three weeks after the deal between Solar Spectrum, which acquired the bankrupt solar company’s assets, and Horizon Solar Power to merge under the Sungevity brand, each of the two companies has announced definitive deals to acquire other solar companies.
Specifically, Horizon Solar Power announced that it has entered into a deal to acquire solar retail marketing services provider BrightCurrent, and Solar Spectrum will acquire the solar sales division of solar management company Skyline Solar.
The companies note that these acquisitions will expand the merged company’s national presence, while giving a boost to its retail and field marketing capabilities. In particular the acquisition of BrightCurrent may allow the new Sungevity to expand into “big box” retail locations, and the company states that its proprietary field marketing technology platform and national network of product partners allows it to help large retailers generate demand for energy home services.
Skyline Solar, meanwhile, will bring its comprehensive project documentation abilities to the new company. “By combining our solar salesforce’s under Solar Spectrum, it will help us all grow the opportunities for customers to have solar installed in their homes and businesses,” commented Skyline CEO Ryan Lane.
Horizon Solar Power and Solar Spectrum predict that the new company under the Sungevity name is expected to be the 2nd-largest residential solar provider in California and the 4th-largest nationally, a position that Sungevity held before its bankruptcy earlier this year.