CHANDLER, Ariz., Oct. 4, 2022
/PRNewswire/ -- NovaSource Power Services ("NovaSource" or the
"Company"), a global leader in solar operations and maintenance
("O&M") services and a portfolio company of Clairvest Group
Inc. ("Clairvest", TSX: CVG) and OMERS Private Equity, the private
equity arm of OMERS, announced its global operations expansion into
Australia with the acquisition of
the Australian O&M assets of First Solar, Inc., which closed on
September 30, 2022.
The acquisition is part of a global expansion strategy helmed by
NovaSource's CEO, Troy Lauterbach.
When Lauterbach assumed the helm of NovaSource as its CEO, he
announced the goal of becoming both a national and global leader in
renewable O&M services. As part of that mission, Lauterbach
named Timo Moeller President for
International Operations. According to Lauterbach, "Timo and I have
a long career together, and I know he is the right person to lead
our global expansion."
The expansion into Australia
adds approximately 500MW of solar energy production, located across
the Australian continent, to NovaSource's global fleet. The
acquisition signals NovaSource's continued focus on expanding its
platform and driving continued market growth in a strong, renewable
energy-focused market.
"We are thrilled to expand NovaSource's global fleet into
Australia's growing solar market.
Our team is energized to present our current and future
stakeholders through APAC a higher standard of technical services,"
said Moeller. "The Company's global framework, deep knowledge and
industry expertise will enable our Australian operations to deliver
experienced leadership and long-term value to our customers."
Currently, NovaSource operates and maintains over 20GW of solar
power plants across 11 countries and is a leading operator of
battery storage systems.
About NovaSource Power Services
NovaSource Power Services, a portfolio company of Clairvest
Group Inc. ("Clairvest", TSX: CVG), is a global O&M services
provider for renewable energy assets. NovaSource seeks to maintain
a world-class culture of safety and integrity, while developing
lasting partnerships with our customers and team members. As an
independent, O&M-focused company, NovaSource is poised to offer
even greater value in the design, maintenance, and management of
our customers' projects. More information is available at
www.novasourcepower.com.
About Clairvest
Clairvest's mission is to partner with entrepreneurs to help
them build strategically significant businesses. Founded in 1987 by
a group of successful Canadian entrepreneurs, Clairvest is a top
performing private equity management firm with over CAD
$3.2 billion of capital under
management. Clairvest invests its own capital and that of third
parties through the Clairvest Equity Partners limited partnerships
in owner-led businesses. Under the current management team,
Clairvest has initiated investments in 59 different platform
companies and generated top quartile performance over an extended
period.
About OMERS Private Equity
OMERS Private Equity manages investments globally on behalf of
OMERS, one of Canada's largest
defined benefit pension plans, with C$121
billion in net assets as of December
31, 2021, including approximately C$19.6 billion in net private equity investment
asset exposure. With teams in New
York, London, Toronto and Singapore, OMERS Private Equity invests across
Industrials, Healthcare, Business Services and Technology,
deploying an evergreen capital base to partner with strong
management teams and transform good companies into industry leaders
around the globe. www.omersprivateequity.com
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SOURCE NovaSource Power Services
