DALLAS and PETALUMA, CA – Electrical wholesaler City Electric Supply Company (CES) and solar equipment distributor Soligent have signed an agreement to acquire 100 percent of Soligent, including solar sales, engineering services and project finance businesses. The transaction is expected to close in late November, subject to regulatory and other approvals and conditions.
"This agreement allows us to focus on delivering even more innovative solutions to the solar energy market," said Jonathan Doochin, CEO of Soligent. "We value the entrepreneurial culture of the CES team and are confident that they will provide our talented team with the right environment to accelerate our vision of making a positive impact on the world through renewable energy."
“We are committed to enabling access to renewable energy equipment and we know that Soligent shares our passion for delivering world-class customer experiences,” said Thomas Hartland-Mackie, President and CEO of CES. "We are excited to join forces and advance our common goal of providing our communities with sustainable options through our combined expertise and experience in residential and commercial solar energy."
Upon completion of the transaction, Soligent will become a subsidiary of CES. Soligent will lead CES’s renewable energy business and work closely with its extensive network of offices and sales to offer a wide range of solar products. This will further accelerate the companies' previous growth rates of over 50%.
Hartland-Mackie added, "We are committed to exploring untapped opportunities and leveraging our complementary businesses to bring exciting new deals to our customers."
This transaction follows a strategic acquisition in the UK, European and South African markets. In October 2021, the owners of CES acquired Segen, a leading global wholesaler of rooftop PV systems for residential and commercial buildings, and its subsidiaries in the UK, Germany and South Africa.
City Electric Supply Company (CES) is a family-owned electrical wholesaler headquartered in Dallas, Texas. The company was founded by Tom Mackie in the UK in 1951 and expanded to the USA in 1983. Today CES employs more than 3,000 people in nearly 600 offices across North America.
Soligent supplies thousands of solar installers in the US and over 45 countries with world-class modules, inverters, racks and system balances.