Beacon announced the completion of the sale of its solar products business to BayWa r.e., a renewable energy developer, service supplier and systems provider globally and in the Americas.
Beacon’s Solar Products business consists of four dedicated and six shared branch locations where it distributes solar products, including photovoltaic panels, to both residential and commercial contractors.
The business was part of the larger Allied Building Products acquisition in 2018.
In the year ended Sept. 30, 2021, Beacon Solar Products generated approximately $111 million in net sales, net income of $2.6 million and Adjusted EBITDA of $3.7 million.
“The divestiture of Solar Products is in line with our strategy to focus on our core exteriors customers,” said Julian Francis, Beacon’s president and CEO. “BayWa r.e. is one of the most respected brands in the clean energy business and uniquely situated to provide the best service for our solar customers and the best opportunities for Beacon Solar employees. We also look forward to developing cross-marketing and selling opportunities with BayWa r.e. to mutually benefit both companies in their respective markets.”