Gibraltar Industries, a manufacturer and distributor of building products for the residential, industrial, infrastructure, renewable energy and conservation markets, announced it has acquired California-based SolarBOS, a privately held provider of electrical balance of systems products for the U.S. solar renewable energy market, in an all cash transaction. Gibraltar Industries bought RBI Solar and affiliate company Renusol Solar for $130 million in 2015.
On a trailing 12-month basis, SolarBOS reported revenue of $13.5 million. The acquisition is expected to be accretive beginning in 2019 following integration in 2018.
“SolarBOS’ deep understanding of solar electric systems and high-voltage DC applications will expand our integrated solar racking and engineering solutions and provide complementary offerings to our existing customers,” said Gibraltar CEO Frank Heard. “In line with our acquisition strategy, we expect the addition of SolarBOS to provide Gibraltar with a distinct competitive advantage and strengthen Gibraltar’s position in the U.S. solar renewable energy market. We welcome the SolarBOS team to the Gibraltar family.”
As a single source provider of solar racking systems, RBI Solar will look to integrate SolarBOS products to more completely serve its customers’ needs. In providing innovative solar racking systems and electrical BOS products, RBI will be equipped to handle greater responsibilities on solar projects while continuing to deliver top of the line customer service.
News item from Gilbraltar and RBI Solar