California EPC provider Sunworks buys installer Solcius for US$51.8 million
Image: Sunworks
Solar and storage provider Sunworks has acquired installer Solcius in a deal worth US$51.8 million.
The acquisition will offer Sunworks, which itself was acquired by Peck Company Holdings, now known as iSun, through a share exchange last summer, the potential to establish a “national leader” in residential solar with access to 12 US states, the company said in a statement.
Solcius earned US$93.4 million in revenue in the year to December 2020, and reported an operating income of US$2.8 million. A statement from Sunworks said the two businesses combined generated net revenues of US$131.5 million in the same fiscal year.