Real Goods Solar to Acquire Mercury Solar Systems

Published August 12th 2013 at 11:13am
Real Goods Solar  Mercury Solar Systems 
August 9, 2013 - Real Goods Solar has signed a definitive agreement to acquire Mercury Solar Systems in a merger transaction.

Real Goods Solar will issue 7.9 million shares of its class A common stock, subject to certain adjustments based on closing working capital and the price of the class A common stock, as the consideration for the acquisition of Mercury. The transaction is subject to the approval of the shareholders of each of Real Goods Solar and Mercury. A representative of Mercury's current board will be nominated to join Real Goods Solar's board of directors.

After the transaction closes, the cash balance will be available to Real Goods Solar for general corporate purposes and to accelerate the growth of the combined business.

Upon closing, Mercury will bring more than 50 employees to Real Goods Solar.

"This transaction brings together two of the country's highly respected and experienced solar companies, creating a very strong and talented team to increase our market reach and our overall depth and breadth of capabilities," said Kam Mofid, CEO of Real Goods Solar. "This acquisition significantly expands our presence as a major solar solutions provider in key solar markets across the East Coast. As an added benefit, it also strengthens our balance sheet with additional working capital that we expect to use to further accelerate growth in key markets across the country."

Haines commented: "Mercury's years of industry experience in designing and installing solar systems, including nearly 2,000 solar installations of varying complexity and size for commercial, residential and utility customers, is highly complementary to the business of Real Goods Solar. As we join forces with Real Goods Solar, our combined size, scale, and financial resources will enable us to increase not only our customer acquisition and project development capabilities, but to do so while bringing to our customers more comprehensive end-to-end solutions, including attractive project finance options."

ENF Profiles For Companies Mentioned in This Article

Real Goods Solar (Solar System Installers):
Mercury Solar Systems (Solar System Installers):
Real Goods Solar (Sellers):
PV industry news is republished free of charge, please send your news to