Civic Renewables Acquires Florida Power Management

Civic, Backed by GEF Capital, Announces Latest Local Solar Company Acquisition: Florida Power Management is the Premier Solar Company in Orlando and Tampa

WASHINGTON and ORLANDO, Fla., Sept. 9, 2024 /PRNewswire/ -- Civic Renewables ("Civic"), a national parent company to a growing network of local clean energy businesses, has acquired Florida Power Management (FPM), the premier solar company in Orlando and Tampa. Civic will act as the parent company to Florida Power Management, integrating the efficiencies and resources of a large organization with the commitment to quality, service, and integrity of FPM. The acquisition is Civic's third since the company launched earlier this year. Civic is backed by GEF Capital, a Washington, D.C.-based private equity firm focused on climate change and pollution mitigation.

"Acquiring Florida Power Management aligns perfectly with our mission to empower local solar businesses. FPM's dedication to delivering high-quality solar installations in Florida strengthens our vision of supporting regional expertise and accelerating solar adoption across the nation. With the backing of GEF Capital, we're excited to integrate FPM into the Civic Renewables family and continue building a sustainable business model that helps local solar thrive," said Leon Keshishian, founder and CEO of Civic Renewables.

"I'm excited for the opportunity to grow and scale our work with the backing of experienced industry leaders at Civic. While many local solar companies are shrinking, this partnership will be the catalyst for our thoughtful expansion. Joining the Civic Renewables family allows us to maintain our local edge, delivering top-tier service to our customers, while benefiting from the scale and efficiency of a larger organization," said Matthew LeStarge, founder of Florida Power Management.

Multiple major solar finance providers have chosen FPM as either the exclusive or primary provider in Florida to complete installations for out-of-business contractors. Civic Renewables is dedicated to speeding the clean energy transition by empowering local solar. In June, the company announced its first two acquisitions of local solar installation businesses: Green Rack Solar and Ipsun Solar. Civic is actively pursuing opportunities with local businesses across the country.

For more information, visit: https://www.civicrenewables.com

About Civic Renewables

Civic Renewables is a national parent company to a growing network of local clean energy businesses. Founded by a team of accomplished solar veteran leaders, Civic Renewables is uniquely positioned to create a new clean energy business model. We deliver a large organization's resources and operational efficiencies combined with the local insight and commitment to quality of community-based businesses. Civic provides its family of businesses with support that allows them to focus on delivering an unparalleled customer experience. Civic Renewables has formed a strategic partnership with GEF Capital, established leaders in global sustainability and environmental investing, to provide the company with funding, guidance, and a network of committed global stakeholders. https://www.civicrenewables.com

SOURCE Civic Renewables