SunEdison Acquires Mark Group, a Leading UK Energy Solutions Provider
2015-07-21 02:00 ET - News Release
Establishes Direct Sales Channel for SunEdison's Residential & Commercial Sales in this Growing Market
LONDON, July 21, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced that it has acquired Mark Group, based in Leicester, United Kingdom, the country's leading full service energy solutions provider and a SunEdison solar sales and installation partner. This acquisition establishes a direct sales channel for SunEdison in residential and commercial sales within the UK, providing customers with robust energy efficient products and services, and strengthens the company's global position as a renewable energy leader.
Mark Group is a leader in the UK residential market, offering its approximately two million UK customers energy efficient solar systems, heating systems and insulation products. The company is highly regarded with a proven track record in the commercial segment, having installed a 6 megawatt solar system which is currently the largest installation on a single rooftop in the UK.
"Mark Group is a seasoned leader in delivering energy efficient solutions to homeowners and businesses in the UK, and this acquisition will enable SunEdison to offer additional energy solutions, products, and services directly to customers," said Vikas Desai, SunEdison senior vice president of residential and small commercial. "By establishing a direct sales channel in the UK, we are augmenting our existing installation partner network to meet the growing demand for solar in this market. As we rapidly scale our business globally, we see the Mark Group expanding SunEdison's expertise and bandwidth in the consumer energy efficiency market, an excellent complement to our residential and commercial distributed solar business."
"We're really excited to become part of a dynamic and innovative company like SunEdison," said Bill Rumble, Mark Group chief commercial officer. "With this acquisition we now have the opportunity to deliver even greater value to our customers, helping them to enjoy long-term benefits from insulation, solar power and other expertly installed energy products."
At the beginning of 2015, SunEdison announced new solutions to bring solar energy to the residential and commercial sectors in the UK, including the launch of the SunEdison Energy Saver Plan, which makes it possible for homeowners to save up to 15 percent on their energy bills without any upfront costs. Mark Group is currently one of the SunEdison partners in the UK that sells and installs this innovative solution to homeowners.
SunEdison is the world's largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
About Mark Group
Mark Group was founded in 1974 in Leicester, UK, and focuses on delivering a full range of energy solutions, including insulation, plumbing, heating and solar.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including: we see the Mark Group expanding SunEdison's expertise and bandwidth in the consumer energy efficiency market; and the SunEdison Energy Saver Plan should allow homeowners to save up to 15 percent in their energy bills without any initial investment. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.
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SOURCE SunEdison, Inc.
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