Solgen Energy Group
On acquisition by Anchorage in 2015, Solgen had an established national footprint and a reputation for high quality service and products. The business operated in an industry with strong thematics around renewable energy sources and energy efficiency and had exposure to the high growth commercial and industrial solar sector.
Anchorage identified an opportunity to capitalise on and further improve Solgen’s nationwide solar platform and implement a range of operational improvement opportunities.
Solgen is a market leader in the installation of commercial solar PV and the distribution of solar products in Australia. Solgen has industry leading technical engineering capability and a reputation for high quality services. The group employs highly skilled engineers to design and manage products and has a number of blue-chip customers. Solgen’s distribution business imports and distributes solar, storage and related products to electrical wholesalers, solar retailers and accredited installers, while also ensuring its commercial installation business has access to product and supply chain.
Under Anchorage’s ownership, through investment in people, processes and systems, Solgen developed a market leading, integrated solar platform that is unrivalled in Australia.
The key aspects of the ACP operational improvement program included:
Implementation of industry leading systems and processes
Development of capability to deliver best-in-class solutions and industry innovations, anchored in engineering expertise
Significant focus on working capital, inventory management and project margin control
Establishment of industry standard safety practices, implemented via the Solgen Safe brand
Genuine national footprint aligned to the needs of large corporate customers
Collectively, the turnaround initiatives resulted in a revenue growth CAGR of ~26% and a sustainable improvement in EBITDA during Anchorage’s ownership.
Solgen was sold to AGL Limited in March 2021.