Gibraltar Industries has acquired California-based SolarBOS, a provider of electrical balance of systems products for the US solar renewable energy market in an all-cash deal.
Image: Array of solar panels. Photo: courtesy of Debbie Mous/FreeImages.com
On a trailing 12-month basis, SolarBOS reported revenue of $13.5 million. The acquisition is expected to be accretive beginning in 2019 following integration in 2018.
Gibraltar CEO Frank Heard said: “SolarBOS’ deep understanding of solar electric systems and high-voltage DC applications will expand our integrated solar racking and engineering solutions and provide complementary offerings to our existing customers.
“In line with our acquisition strategy, we expect the addition of SolarBOS to provide Gibraltar with a distinct competitive advantage and strengthen Gibraltar’s position in the U.S. solar renewable energy market. We welcome the SolarBOS team to the Gibraltar family.”
Source: Company Press Release