Mars Energy Group, a holding company for commercial solar companies, is pleased to announce the acquisition of K12 Solar via its subsidiary, NewGen Energy.
LOOMIS, Calif., September 7, 2023 (Newswire.com)
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Mars Energy Group, a holding company for commercial solar companies, is pleased to announce the acquisition of K12 Solar (‘K12’) via its subsidiary, NewGen Energy. With this addition, K12 becomes the fifth company to be integrated into Mars Energy’s portfolio, which includes NewGen Energy (the platform company), Solara Home Energy, Ready Home Energy, and SolarCare+.
Based in El Dorado Hills, K12 Solar, specializes in small commercial solar solutions serving non-profits, faith-based organizations, schools and small commercial businesses by utilizing a unique financing mechanism called Power Purchase Agreements (‘PPAs’). The acquisition of K12 enables Mars Energy to broaden its robust commercial solar business into an adjacent and underserved customer segment.
“Acquiring K12 brings us a wealth of talent, PPA expertise and opportunities in the nonprofit world,” said Abe Emard, the CEO of all of the Mars Energy portfolio companies. “The company’s proprietary software solutions, PPA product, and specialized team will allow Mars Energy to capture a larger share of the commercial solar market.”
Miguel De Anquin and Dean Marks, co-founders of K12 Solar, expressed excitement about the acquisition. De Anquin stated, “Integrating K12 into Mars Energy allows to unlock the true potential of K12 and take it to new heights.” Marks added, “Our PPA and non-profit expertise complement Mars’ and NewGen’s robust commercial operations engine seamlessly.”
“We are thrilled to have K12 Solar to be part of the Mars Energy family. Our pursuit of exceptional solar companies and giving them resources of a larger company whilst still maintaining the small close-knit company culture, is resonating with partners,” remarked Manvendra Saxena, Founder & Executive Chairman of Mars Energy Group.
About Mars Energy Group
Mars Energy Group is a holding company that acquires solar companies & provides post acquisition support by utilizing technology, implementing systems, and driving process improvements.
About NewGen Energy (Platform company of Mars Energy)
NewGen is one of the largest commercial solar companies, primarily serving agriculture customers.
About Mars Equity Partners
Mars Equity Partners is a lower middle market private equity fund in Northern California.
Source: MARS Energy Group
