- Swinerton Renewable Energy has been acquired by American Securities LLC
- The private equity firm has also taken over the O&M division of Swinerton group, SOLC Inc.
- Both these companies will now operate under a single brand of SOLV Energy, LLC
One of the top solar EPC companies from the US, Swinerton Renewable Energy (SRE) has a new owner – private equity firm American Securities LLC has entered into a definitive agreement to acquire the renewable energy division of Swinerton Builders.
The agreement also covers SOLV Inc., the operations and maintenance (O&M) division of the Swinerton group.
Both SRE and SOLV Inc. will become a single, independent company, incorporating both EPC and O&M services, shared Head of SRE and SOLV Inc., George Hershman. It will be called SOLV Energy, LLC, focused on the US solar and storage industry, with all of their current employees and management team transitioning to the new entity.
SRE claims to have built more than 7 GW of solar PV capacity in 26 US states since 2008 when it was formed by Swinerton Builders. It used to cater to only commercial clients, and later expanded to the utility scale segment.