Oaktree-backed solar equipment provider Shoals Technologies files $ 100 million IPO request

SHoals Technologies Group, a leading U.S. supplier of electric balancing products for solar projects, on Wednesday filed with the SEC to raise $ 100 million in an initial public offering. saving.

Backed by Oaktree Capital, the company’s Electrical Balance System (EBOS) solutions encompass all of the components necessary to carry the electrical current produced by solar panels to an inverter and ultimately to the electrical grid, including cable assemblies. , in-line fuses, combiners, disconnectors, recombiners, wireless monitoring systems, junction boxes, transition boxes and splice boxes. Shoals primarily sells complete EBOS systems which include many of its products. Shoals experienced relatively rapid growth in 2019 (+ 39% year-on-year) and over the YTD period (+ 28%), similar to solar equipment 2020 IPO Array Technologies (ARRY).

The Portland, Tennessee-based company was founded in 1996 and reported sales of $ 175 million for the 12 months ended September 30, 2020. It plans to list on Nasdaq under the symbol SHLS . The Shoals Technologies group filed a confidential file on November 12, 2020. Goldman Sachs, JP Morgan, Guggenheim Securities and UBS Investment Bank are the associated bookkeepers of the transaction. No pricing conditions were disclosed.

The article Oaktree-backed solar equipment provider Shoals Technologies files $ 100 million IPO request originally appeared on the renaissancecapital.com website of IPO investment manager Renaissance Capital.

Disclosure of investments: The information and opinions expressed in this document have been prepared by Renaissance Capital research analysts and do not constitute an offer to buy or sell any securities. Renaissance capital ETF Renaissance IPO (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of the companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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