MARK GROUP ACQUIRES A MARKET LEADER IN COMMERCIAL AND INDUSTRIAL SOLAR PV INSTALLATIONS IN AUSTRALIA

Anchorage Capital Partners is pleased to announce that its investee company, Mark Group Holdings (Mark Group), has today completed the acquisition of Solgen Group (Solgen).

Solgen was formed 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. 

The acquisition of Solgen is highly complementary to Mark Group, providing exposure to the high growth commercial and industrial solar sector. “This acquisition presents an opportunity to capitalise on a dynamic market and realise our strategic intent to further strengthen our brands as the leading providers of quality renewable energy solutions in the region”, said David Brown, CEO of Mark Group.  

Solgen has an experienced and highly regarded leadership team, led by founders David Naismith and Joe Coco, who will remain as Directors of Solgen and join the Senior Executive Team of the combined Group. 

“Today’s announcement is exciting news for the Solgen team, our customers and our business partners. We share in the passion and vision of the Mark Group team to be the leading renewable energy provider in the region” said David Naismith.

The Solgen investment further strengthens Anchorage’s investment and commitment to renewable energy alongside Mark Group.  Phil Cave, Mark Group Chairman said, “We are delighted to bring together Mark Group and Solgen as we set about creating a high quality, sustainable business, in an exciting industry”.

About Solgen

Solgen was formed 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. 

About Mark Group

Mark Group was formed in 2009 and has established itself as one of the leaders in the residential solar PV installation segment, with over 21,000 energy efficiency installations completed in the past 6 years. 

About Anchorage Capital Partners

Anchorage Capital Partners is a specialist Australian private equity firm that focuses on investing in companies which have strong and established track records, but are not achieving their full potential.  The funds managed by Anchorage have $450 million in committed funds.  Anchorage's partners and investment professionals have considerable experience in company management, corporate strategy, management consulting and corporate finance and have a long track record of successful partnerships with management teams.