Today PetersenDean Roofing & Solar has announced its acquisition of Hawaii’s Haleakala Solar. Haleakala was founded in 1977, and has built more than 15,000 projects in the state to date.
PetersenDean described the company as the largest solar and battery installer in Hawaii, however this does not appear to be supported by data. GTM Research says that by permit data in the territory of Hawaiian Electric Companies (HECO), Haleakala is the eighth-largest solar installer. Additionally Sunrun claims a larger market share than Haleakala in the state.
Not only will the acquisition allow PetersenDean to expand into Hawaii, but will also allow Haleakala to grow dramatically. The company plans to expand roughly eight-fold from its current 125 employees and add roughly 1,000 new jobs over the next two years, and has set a goal to reach $100 million in sales.
As part of this growth the company also plans to expand into a sixth island later this year. The company currently operates on the islands of Oahu, Maui, Kaua’i, Lanai and Molokai, which covers most of the state’s population.
“We share a commitment to excellence and PetersenDean’s size, organization, and impeccable reputation will take the company to a new level,” stated Haleakala Solar Founder Jim Whitcomb. Whitcomb will remain in the company’s sales development segment.
Haleakala will also add roofing to the services it offers, which has traditionally included installing solar water heating as well as photovoltaic systems and batteries. Additionally, PetersenDean has stated that it will provide additional financing options for Haleakala’s customers.
“PetersenDean is a perfect fit for Hawaii given our size and product offerings, in addition, we have the finance options to truly help the island community to install a new roof, solar or a home battery at very low monthly payments,” said Petersen. “We look forward to growing our business in Hawaii and adding more American jobs in doing so.”
Gary Liardon, the president of the consumer division of PetersenDean, is heading up the transition. Additionally he will oversee what PetersenDean describes as “additional acquisitions” planned across the United States this year.
Correction: This article was corrected at 10:30 AM EST on March 8. According to GTM Research, it is unlikely that Haleakala is the largest solar installer in Hawaii, and as such the headline has been changed and we have included information on PetersenDean’s claim and GTM Research’s analysis of permit data.