Vivint Solar, one of the largest PV installers in the US, has bought install optimisation tool maker Solmetric.
The company makes instruments and software to assess potential sites and monitor performance after installation. Vivint Solar confirmed it was an all cash deal that will see Solmetric become a wholly owned subsidiary.
“The Solmetric team has developed industry-dominant SunEye hardware and PV Designer software product lines that have maintained an impressive, satisfied customer base,” Greg Butterfield, CEO, Vivint Solar.
SunEye is a handheld tool for shade analysis while PV Designer allows installers to assess different system layouts’ potential energy production during the design process.
“Further in-house, advanced development of Solmetric products will help strengthen our pre-installation site assessment and computer aided design process even further at this crucial market expansion time for Vivint Solar,” Butterfield added.
“As part of Vivint Solar, we plan to continue to enhance our existing products line and develop even more offerings to benefit the entire industry and enable us all to install faster, low-cost and higher quality solar,” said Willard MacDonald, president and CEO of Solmetric Corporation.
Many installers in the US are turning to merger and acquisition activity to help reduce costs.