Dallas-based electrical wholesale distributor City Electric Supply Company has reached an agreement to acquire solar distributor Soligent and its solar distribution, engineering services and project financing business.
Financial details of the agreement were not disclosed.
The transaction is expected to close at the end of November, subject to regulatory and other approvals and conditions, according to CES.
“We are committed to providing access to renewable energy equipment and know Soligent shares our passion for delivering best-in-class experiences to customers,” said Thomas Hartland-Mackie, CES president and CEO. “We are excited to team up and advance our shared goal to provide sustainable options to our communities through our combined expertise and experience in the residential and commercial solar energy space.”
After the deal is finalized, Soligent will be a subsidiary of CES.
Soligent will take on leadership of CES’s Renewables division and work closely with its extensive branch and distribution network to provide a wide range of solar product offerings, CES said.
CES said the deal will “further accelerate” the companies’ over-50% growth rates to date.
City Electric Supply ranks No. 8 on MDM’s top distributors list for electrical, data and security distributors.