Carlyle Makes a Strategic Investment in Complete Solar, a Fast-Growing U.S. Residential Solar Platform
NEW YORK and San Ramon, CA – Global investment firm Carlyle (NASDAQ: CG) announced a strategic growth investment by one of its managed funds in Complete Solar, Inc. (“Complete” or the “Company”), a technology-enabled platform that is transforming the energy transition process for homeowners and small businesses across the U.S.
Founded in 2010, Complete offers solar systems and clean energy products to its customers across 23 states through a national network of channel partners. Since its inception, Complete has facilitated the completion of thousands of installations—successfully offsetting over 2 million tons of C02. Complete’s in-house software platform, Helio, provides customers and channel partners with seamless access to design, quoting, and workflow management tools that help minimize installation time and improve the customer and channel partner experience.
“We are excited to partner with the Complete Solar team to continue the acceleration of distributed clean energy resource deployment, lower customer bills, and improve resiliency,” said J.B. Oldenburg, a Managing Director in Carlyle’s Infrastructure platform. “The residential solar industry continues to be a high-growth market, and we believe Complete’s technology-enabled platform and business model will help accelerate and enhance homeowner adoption of clean energy products. We look forward to leveraging Carlyle’s deep industry expertise and vast network to help drive Complete’s expansion into adjacent markets and products designed to help homeowners and businesses accelerate their energy transition.”
Will Anderson, CEO and co-founder of Complete Solar said, “As one of the most respected investors in the world, we believe the Carlyle Group’s backing of Complete Solar validates everything we have built. We are on a mission to power the solar industry. Our platform unites the solar journey, provides world-class customer experiences, and makes it easy for anyone to sell solar. This investment reflects our deep commitment to develop a global society powered by the sun.”
The investment in Complete furthers Carlyle’s commitment to accelerating the transition to a net zero economy.
Marathon Capital, an independent investment bank delivering strategic financial advice to the clean energy, sustainable technologies, and infrastructure markets, served as financial advisor to Complete.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $301 billion of assets under management as of December 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,850 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Complete Solar
Complete Solar is a leading residential solar company with a platform technology for managing every aspect of the customer experience. Through this platform, Complete Solar partners with best-in-class companies that specialize in each link of the solar value chain. The platform is becoming an industry standard that enables specialization and improves each aspect of the value chain, reducing costs and enhancing the customer experience. The company currently serves 23 states and is headquartered in San Ramon, California.
Visit www.completesolar.com to learn more.
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