SOLGEN ENERGY GROUP

Website: www.solgen.com.au

Investment date: March 2015

Company Description

Mark Group (MG) is a leader in the premium segment of the solar photo voltaic installations market in Australia. Established in 2009, MG has operations across Australia.    Mark Group was rebranded to Solgen Energy Group in May 2016.

Investment Overview

Prior to Anchorage's acquisition of MG in March 2015, the company was a wholly owned subsidiary of Mark Group United Kingdom ("MGUK").  The business was underperforming and was made available for sale following a restructure of MGUK.

Given MG's established national footprint and a reputation for high quality service and products, and the strong industry thematics around renewable energy sources and energy efficiency, Anchorage expects to realise sustainable earnings improvement through its turnaround program. 

Solgen Group (Solgen) was acquired by MG in December 2015.  Solgen was founded in 2008 and is a market leader in commercial and industrial solar PV installations in Australia, with many solar installations completed for high profile commercial and Government clients. Solgen is highly complementary to MG and provides exposure to the high growth commercial and industrial solar sectors.  Solgen’s blue chip customers include NBN, City of Sydney and Woolworths and Australia's largest airport rooftop solar system at Adelaide Airport.

Phil Cave is Chairman of Solgen, and is joined on the Board by Callen O'Brien.  Callen O’Brien is Chair of the Turnaround Committee joined by Daniel Wong and Hayden Neeland.