Ares EIF to Buy Majority Stake in Conti Solar

Conti Solar has received strategic investment from a fund managed by Ares EIF, the power and energy infrastructure strategy in the Private Equity Group at Ares Management.

Private Equity firm Ares EIF has acquired majority ownership stake in Conti Solar, previously a wholly-owned subsidiary of The Conti Group.

Further, Conti Solar has received strategic investment from a fund managed by Ares EIF, the power and energy infrastructure strategy in the Private Equity Group at Ares Management.

However, the deal is expected to close at the end of April but the terms of the transaction were not disclosed.

Post this investment, minority position will be retained by The Conti Group in the company. Even though, the company will continue to operate as Conti Solar.

Also, the Conti Group will continue to be involved in the oversight and strategic direction of the company.

Conti Solar has been active in the development, EPC, and operations of solar and energy storage projects totaling more than 500 MW throughout the US and in select international markets for more than a decade.

Commenting on the deal, Conti Solar, CEO, Matthew Skidmore said, “The investment from Ares EIF will make Conti Solar a more dynamic company and will enable us to accelerate our growth and pursue additional strategic initiatives.”

“Together, we will drive more value to our customers and partners across the industry,” Skidmore added.

“Our investment in Conti Solar is a great strategic fit for Ares EIF, but, above all, it is an investment in Conti Solar’s management and the strong team and culture they have built over the years,”said Keith Derman, Partner, Ares EIF.

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Manu Tayal

Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.

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