M&A Deal Summary

Nelnet Acquires GRNE Solar

On July 5, 2022, Nelnet acquired renewable energy company GRNE Solar

Acquisition Highlights
  • This is Nelnet’s 1st transaction in the Renewable Energy sector.
  • This is Nelnet’s 7th transaction in the United States.
  • This is Nelnet’s 1st transaction in Illinois.

M&A Deal Summary
Date 2022-07-05
Target GRNE Solar
Sector Renewable Energy
Buyer(s) Nelnet
Deal Type Add-on Acquisition

Target

GRNE Solar

Palatine, Illinois, United States
GRNE Solar is a Midwest solar engineering, procurement, and construction (EPC) firm. The company designs and installs residential, commercial, and utility-scale solar systems in Illinois, Indiana, Iowa, Nebraska, Missouri, and soon in Colorado. GRNE's solar projects typically generate between 1 megawatt (MW) to 5 MWs of power. It also offers battery backup, electric vehicle charging, energy monitoring, and operations and maintenance services. GRNE Solar was formed in 2012 and is based in Palatine, Illinois.

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Buyer(S) 1

Buyer

Nelnet

Lincoln, Nebraska, United States
Category Company
Founded 1977
Sector Financial Services
Employees7,550
Revenue 1.0B USD (2023)
DESCRIPTION

Nelnet focuses on delivering education-related products and services and student loan asset management. Nelnet earns interest income on a portfolio of federally insured student loans. The Company also makes investments to further diversify from its core education-related businesses. Nelnet was founded in 1977 and is based in Lincoln, Nebraska.

DEAL STATS #
Overall 7 of 7
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 6 of 6
State (Illinois) 1 of 1
Country (United States) 7 of 7
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Catholic Faith Technologies

Overland Park, Kansas, United States

Catholic Faith Technologies is an online learning and formation platform company that offers its learning management technology and services to faith-based organizations as Catholic Faith Technologies and to businesses under the CD2 Learning brand. Catholic Faith Technologies was founded in 2008 and is based in Overland Park, Kansas.

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