Bravo Infrastructure Group LLC (BIG) has acquired Radiance Solar LLC, a commercial and industrial (C&I) solar engineering, procurement and construction (EPC) contractor in the southeastern United States, through a capital partnership with Orion Infrastructure Capital (OIC).
Since 2007, Radiance has installed over 125 MW of solar across ground mounts, rooftops and canopies, including systems with battery storage. Radiance also maintains a large operations and maintenance (O&M) business serving assets throughout the southeast. To complete the purchase of Radiance, BIG partnered with OIC, a capital solutions provider to middle market infrastructure businesses with approximately $3 billion of assets under management.
“We are very excited to announce the acquisition of Radiance and our capital partnership with OIC,” says Steve Newby, owner of BIG. “Radiance is a leader in the commercial and industrial EPC market and the O&M market in the southeast. We look forward to working with their outstanding team on meeting the needs of the high growth C&I solar market. Radiance will be the perfect complement to BIG’s other solar platform, Sunshine Solar LLC, the second largest C&I mechanical installation firm in the U.S. With OIC as a partner, both companies are strongly capitalized, and we expect both to benefit from the significant growth and tailwinds in solar deployment.”
“OIC’s capital partnership with BIG and the acquisition of Radiance represents our collective conviction on the demand for C&I and community solar systems,” states Chris Leary, investment partner and head of infra equity at OIC. “We believe that our structured equity solution will further support environmentally innovative distributed power generation solutions for customers focused on sustainability.”