$50M Growth Capital Investment Announced for SunVest Solar
PEWAUKEE, WI, November 11, 2020 –
SunVest Solar, one of the nation’s fastest growing solar companies, today announced a platform growth investment and equity capital commitment from Euclid Capital. The partnership creates a vertically integrated solar company, including a development pipeline backed by growth assets, 20 megawatts of operating and construction-stage solar projects, and $50 million of long-term sponsor equity to expand its owned and managed Solar PV Assets to more than 150 megawatts.
Based in Wisconsin and Illinois, SunVest has a leading position in the Midwest with a pipeline of projects across the country. “Our partnership with Euclid brings significant capital to fund SunVest’s development pipeline,” said Matt Neumann, SunVest’s founder and CEO, “while the sponsor equity and our collective operating assets create capital certainty and a strong foundation to build a large operating portfolio.” SunVest is highly experienced at developing and building distributed generation (DG) solar projects, having constructed over 80 megawatts of rooftop and ground mounted DG projects for itself and on behalf of clients.
Upon closing of the transaction, Euclid Capital will become a partner at SunVest and join the company’s board of directors. “We are pleased to be partnering with SunVest’s top tier management team,” said Bram Walters of Euclid, “the extraordinary people at SunVest have created one of the most exciting platforms in the solar sector and we look forward to working together to expand a national solar leader.” Euclid Capital is focused on identifying businesses that can benefit from platform funds to support growth, with the ability to deploy significant institutional funds into projects. Euclid’s investment allows SunVest to develop its pipeline into a large-scale operating portfolio.
About SunVest Solar
With headquarters in Pewaukee, Wisconsin, SunVest is a leading Midwest solar company that has built a national presence in development, construction, and operation of distributed generation solar projects. SunVest has constructed over 80 megawatts of distributed generation and rooftop solar projects. With in-house design, project management and procurement capabilities, SunVest currently has 30 employees and is active in 12 states. For more information, please visit www.sunvest.com.
About Euclid Capital
Euclid Capital is an investment manager focused on the infrastructure vanguard. Founded in 2018 and based in Toronto, Canada, Euclid seeks partnerships with rapidly growing businesses to deploy funds across an expanded definition of the infrastructure category. Euclid’s partnership approach is centered on supporting management teams and focused on operations, asset optimization, and value growth for all their stakeholders. For more information, please visit www.euclidcapital.ca.