Puerto Rico-based solar installer Integrated Solar Operations (ISO Solar) has been acquired by private equity firm RM Capital Partners.
Founded in 2013 with a mission to deliver reliable and sustainable energy solutions, ISO Solar offers solar engineering, design, installation, repair, and maintenance services in the residential and commercial markets and has served more than 6,000 customers. The company has earned national recognition for its operational excellence and customer service, and has been featured on SPW’s Top Solar Contractors List.
“We specifically chose to partner with RMC due to its invaluable expertise spanning solar, project finance, and renewable energy, while also understanding the importance of our employees and team culture as driving forces of ISO Solar’s success,” said Ralph Diaz, ISO Solar founder. “We are confident solar will power Puerto Rico’s future, and RMC will help us achieve our goal of providing access to clean, reliable, and affordable energy to all Puerto Ricans.”
RMC’s multi-faceted growth strategy will enable ISO Solar to capitalize on the growing need for energy resiliency, energy security and lower energy bills compared to the status quo – reliance on an unstable and under-maintained centralized electrical grid. Despite billions in federal funding allocated to rebuilding and strengthening Puerto Rico’s energy infrastructure, which was decimated by Hurricane Maria in 2017, both the frequency of power outages and price of electricity have continued to rise. As a result, many residents are actively searching for alternatives, and ISO Solar is strategically positioned to meet this demand through technological innovation, product line expansion, and operational excellence.
“Ralph and his team have built a truly best-in-class business,” said Ruslan Matveyev, Managing Partner of RM Capital Partners. “We are excited to expand on ISO Solar’s tremendous accomplishments by leveraging the Company’s reputation, relationships, and capabilities, while further investing in people, products, services, and infrastructure to capture an outsized share of the surging demand for alternative energy solutions in Puerto Rico. We are proud to partner with ISO Solar and look forward to supporting the next chapter of its growth and value creation.”
As RMC and ISO Solar embark on this new chapter, Diaz will stay on as a board member and ensure a smooth transition in executive leadership to the company’s new CEO, Francisco González Ohárriz, who brings more than a decade of solar, business development, and executive leadership experience to the team, and he will play an integral role in executing the company’s value creation plan.
News item from ISO Solar
