M&A Deal Summary

SunPower Acquires Blue Raven Solar

On October 5, 2021, SunPower acquired renewable energy company Blue Raven Solar from Peterson Partners for 165M USD

Acquisition Highlights
  • This is SunPower’s 6th transaction in the Renewable Energy sector.
  • This is SunPower’s 2nd largest (disclosed) transaction.
  • This is SunPower’s 6th transaction in the United States.
  • This is SunPower’s 1st transaction in Utah.

M&A Deal Summary
Date 2021-10-05
Target Blue Raven Solar
Sector Renewable Energy
Buyer(s) SunPower
Sellers(s) Peterson Partners
Deal Type Add-on Acquisition
Deal Value 165M USD

Target

Blue Raven Solar

Orem, Utah, United States
Blue Raven Solar provides clean energy solutions to residential customers with no upfront costs and guaranteed savings on their power bill. Blue Raven Solar was established in 2014 and is based in Orem, Utah.

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Buyer(S) 1

Buyer

SunPower

Richmond, California, United States
Category Company
Founded 1985
Sector Renewable Energy
Employees2,200
Revenue 1.7B USD (2022)
DESCRIPTION
SunPower's corporate headquarters in San Jose, California.
SunPower's corporate headquarters in San Jose, California.

SunPower is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. SunPower was founded in 1985 and is based in San Jose, California.

DEAL STATS #
Overall 6 of 6
Sector (Renewable Energy) 6 of 6
Type (Add-on Acquisition) 4 of 4
State (Utah) 1 of 1
Country (United States) 6 of 6
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-14 NovaSource Power Services

Austin, Texas, United States

NovaSource Power Services is a provider of solar operations and maintenance (“O&M”) services to utility, commercial, industrial, and residential customers, with over 20GW of solar assets under management. NovaSource operates a global footprint with a presence in North America, South America, EMEA, Asia, and Australia. NovaSource Power Services is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-10 SunPower - Commercial & Industrial Solutions

San Jose, California, United States

SunPower's Commercial & Industrial Solutions is a provider of renewable energy services for commercial sectors.

Sell $250M

Seller(S) 1

SELLER

Peterson Partners

Salt Lake City, Utah, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1995
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Peterson Partners is a private equity firm that targets investments in lower middle-market growth companies located in the Western US. Peterson looks to commit between $5 and $25 million of equity in companies generating sales of at least $5 million. Sectors of interest include consumer products and services, business services, and manufacturing. Peterson Partners was formed in 1995 and is based in Salt Lake City, Utah.

DEAL STATS #
Overall 30 of 33
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 10 of 11
State (Utah) 11 of 12
Country (United States) 28 of 30
Year (2021) 4 of 4
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-29 Avea Solutions

Portland, Oregon, United States

Avea Solutions provides billing and revenue cycle management software to healthcare providers and billing companies in the addiction treatment space. Avea Solutions was established in 2011 and is based in Portland, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 WashU

Burbank, Illinois, United States

WashU is a developer and operator of express car washes in the Chicago metropolitan area. WashU is based in Burbank, Illinois.

Buy -
Mergr

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