America: Global Solar Energy, a manufacturer of solar technology, is
planning to sell its portable products business.
The proposed sale will enable Global Solar to focus on and
grow other key business units serving the building integrated photovoltaic
Global Solar’s Portable Solar Business is the leading
lightweight, high-efficiency portable solar power solution for military
applications, mobile professionals and outdoor enthusiasts. Global Solar’s
Portable Solar Business sells its products to more than 20 military customers
and has commercial sales through retailers and OEMs around the globe.
Global Solar has appointed FTI Capital Advisors, LLC (FTICA)
member FINRA/SIPC, the wholly owned investment banking subsidiary of FTI
Consulting, for the sale.
“The Portable Solar Business is positioned to recognize
a fourth straight year of strong revenue and profitability. The time has come
for Global Solar to realize value from the business and identify a buyer who
will take the product line to the next level. Serving select markets which
require lightweight power sources, these innovative solar products offer a
unique opportunity to own a growing, profitable solar enterprise that generates
strong, positive cash flow,” said Jeffrey Britt, CEO, Global Solar.
The sale of the portable solar business enables Global Solar
to increase focus on core product lines, namely Copper Indium Gallium
diSelenide (CIGS) solar cells for OEMs such as Dow Solar and the company’s
commercial-scale flexible modules ideal for building integrated applications.
The Company does not anticipate any disruption in production
or service to its Portable Solar Business customers during the sale process.