SunPower has accomplished integrating Sunder Vitality into its operations after acquiring the competing residential solar company in September, in keeping with a press launch.
“Often closing an integration doesn’t make headlines, however the commonest acquisition failure mode is poor integration of the 2 corporations, resulting in devastating expertise and worth loss,” stated T.J. Rodgers, chairman and CEO of SunPower. “We use an in depth acquisition course of that has been efficiently utilized 28 instances in three totally different corporations, beginning with Cypress Semiconductor.”
SunPower acquired Sunder Vitality for $40 million, plus 10 million shares of frequent inventory. Sunder was a nationwide residential contractor based mostly in Sandy, Utah, and labored in 21 states and Washington, D.C. The corporate specialised in third party owned (TPO) residential photo voltaic tasks, that are nonetheless eligible for the industrial funding tax credit score (48E). Rodgers said that 93% of Sunder’s put in photo voltaic base is TPO.
The unique model of SunPower filed for Chapter 11 chapter in August 2024, and was acquired by residential photo voltaic supplier Full Solaria. Since then, Full Solaria adopted the moniker and has been doing enterprise as SunPower.
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