KINGSPAN ENERGY ACQUIRES CONNECTICUT’S ASAP SOLAR TO STRENGTHEN PRESENCE IN NEW ENGLAND, CONNECTICUT, NEW YORK AND NEW JERSEY
The acquisition adds a fully integrated energy services company to its U.S. operations
JESSUP, MD - June 29, 2015 - Less than 90 days after its U.S. launch, Kingspan Energy, a wholly owned subsidiary of Kingspan Group PLC, today announced its acquisition of American Solar & Alternative Power, LLC, known by its trade name, ‘ASAP'. The deal represents the first acquisition by Kingspan Energy in the U.S. and bolsters the company's sales, marketing, and project development presence in New England and the New York tri-state area.
"Kingspan Insulated Panels are already very well established in the U.S. commercial and industrial market with their high performance building envelope solutions. The recent addition of rooftop solar via Kingspan Energy means our proposition for building owners is even more compelling. Customers can now benefit from a combined product warranty that covers both their insulated roof panel system and the incorporated rooftop solar PV," says Ralph Mannion, president of Kingspan Energy. "The ASAP acquisition is another positive step for Kingspan Energy as we expand our commercial rooftop solar offering to customers in the Northeast. ASAP's founders Elliot Isban and Jerry Charlup are very experienced in the solar energy space and have built an impressive company. We're delighted to be moving forward together."
Founded in 1990, ASAP has a nearly 30 year history as a commercial solar energy and LED lighting project developer active from New Jersey to Massachusetts. "Our company has always been very progressive." says Elliot Isban, President of ASAP. "With our focus on commercial rooftop solar and the ongoing expansion of that market segment, we feel very positive about the future."
Kingspan's Mannion feels the fit is a natural one. "ASAP and Kingspan share a unique approach to solar project development, combining energy consulting, financing, engineering, construction, operation, and maintenance in a turn-key package for customers," he says. "ASAP significantly increases our in-house knowledge of New England, Connecticut, New York, and New Jersey".
Isban Agrees. "Joining Kingspan Energy enables the ASAP team to do what we do best, just on a bigger scale, with better access to project financing, a larger marketing presence, and a trusted global brand, all of which are important in the evolving solar PV sector. With the additional opportunity presented by Kingspan Insulated Panels wall and roof applications we now have a compelling integrated solution to bring to market. We're very excited by the possibilities".