Clairvest Acquires SunPower's O&M Business and Rebrands It NovaSource Power Services

NovaSource Acquires First Solar's North American O&M Business

March 31, 2021

Renewable Energy

NovaSource Power Services (a Clairvest-backed platform) completed the acquisition of First Solar’s North American operations & maintenance business (First Solar Energy Services), making NovaSource the largest solar O&M provider globally. Clairvest provided incremental equity to support the deal; the transaction transfers First Solar’s North American O&M operations to NovaSource to deepen O&M capabilities across utility, commercial, industrial and residential solar assets.

NovaSource Power Services Acquires SunSystem Technology

January 26, 2021

Renewable Energy

NovaSource Power Services, a portfolio company of Clairvest Group Inc., has merged with SunSystem Technology (SST); the combined business will operate under the NovaSource brand. The transaction brings together field technicians and operations to expand nationwide renewable O&M coverage (the combined group has ~550 field technicians) and positions Derek Chase (CEO of SST) to lead NovaSource's Distributed Generation O&M business.

OMERS Private Equity Makes US$100M Growth Investment in NovaSource Power Services

August 9, 2022

Renewable Energy

OMERS Private Equity has acquired a minority stake in NovaSource Power Services through a US$100 million growth capital investment, alongside NovaSource's leadership team and majority owner Clairvest Group. The proceeds will finance NovaSource's continued growth, capability expansion (including recent acquisition of Heliolytics) and international expansion of its solar operations & maintenance and storage services.

Clairvest (with Ironwood) Invests in Star Waste Systems (Boston Carting Services)

July 1, 2022

Environmental Services

Clairvest Group Inc., through Clairvest Equity Partners VI, made an equity investment to acquire a majority interest in Star Waste Systems (dba Boston Carting Services). Ironwood Capital, an existing investor, participated in the transaction/recapitalization. The deal will support Star Waste’s growth in the Greater Boston market and expand its waste collection and materials-recovery capabilities.

424 Capital Acquires QE Solar

May 7, 2021

Renewable Energy

424 Capital has completed the acquisition of QE Solar, a Cranford, New Jersey-based provider of operations and maintenance (O&M) services for commercial, industrial, and utility-scale solar and battery energy storage systems. The investment will provide capital to support QE Solar's nationwide workforce growth and expand its capabilities in solar and battery storage services; QE Solar employs over 80 field technicians and engineers and services more than 2.0 GW of C&I solar installations.

NovaSource Acquires Heliolytics

January 5, 2022

Renewable Energy

NovaSource Power Services has acquired Heliolytics, an aerial inspections and site-data provider for photovoltaic assets. The deal expands NovaSource’s lifecycle services and digital capabilities, integrating Heliolytics’ aerial inspection and analytics to enhance asset performance for solar customers globally.