Renewable Energy Acquisitions in Arizona

Toronto-based private equity firm Lynx Equity Limited has acquired Esmay Electric, a Lake Havasu City, Arizona electrical contractor specializing in solar panel installations, design and permitting. The founder, Greg Esmay, sold the business as part of his retirement, and Lynx intends to maintain existing customer and employee relationships while supporting the company’s leadership and continued operations in the solar sector.

Strata Clean Energy has acquired Phoenix-based Crossover Energy Partners, purchasing 100% of Crossover's assets to incorporate its origination and power-offtake capabilities into Strata's utility-scale solar and storage platform. Senior Crossover leaders will assume roles at Strata and all Crossover employees will merge into the Strata organization to bolster project origination, financing and execution capabilities.

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.

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.