Equal Earth Acquires Hawaii Retail Services: Vertical Integration Delivers Savings for Retailers
Equal Earth today announced it has acquired Oahu-based Hawaii Retail Services. The transaction supports Equal Earth's vertical integration strategy and provides retailers with "one-stop shopping" for the financing and installation of alternative energy solutions such as solar photovoltaic systems.
SAN DIEGO, November 6, 2014 - Equal Earth today announced that it has acquired Oahu-based Hawaii Retail Services for an undisclosed amount in a cash-and-stock transaction. Hawaii Retail Services, now a subsidiary of Equal Earth, is a leading specialty retail services company providing construction, lighting and facility management services to customers such as CVS, Petco, Starbucks, Verizon and many other well-known retail brands.
The acquisition supports Equal Earth's vertical integration strategy and will deliver significant cost savings for retailers in Hawaii seeking clean energy solutions. The transaction also provides retailers with a single convenient source for the financing and installation of environmentally conscious solutions such as LED lighting and solar photovoltaic systems.
"Hawaii Retail Services is a natural fit with our existing business and part of our vertical integration strategy," said Equal Earth President and CEO, Andrew Duggan. "Hawaii Retail Services works with many of the largest retailers in the world and we are very excited to welcome this talented team to Equal Earth," added Duggan.
According to Ryno Irwin, CEO of Hawaii Retail Services, who joins Equal Earth as part of the acquisition, the combined company offers retail customers who want to go green the convenience of "one-stop shopping." "We are seeing more customers make the switch to clean energy. This transaction enables us to help retailers make the transition and will create real cost savings," added Irwin.
About Equal Earth
Based out of San Diego, Equal Earth is a diversified renewable energy company with a portfolio of assets providing customers lower-cost, environmentally conscious energy solutions. The company offers commercial and residential customers simple financing solutions, helping them to significantly reduce their utility bills. By developing and financing projects powered by renewable energy sources such as wind and power, Equal Earth is helping to change how we power the world.