Mars Energy Group Acquires Ready Home Energy

LOOMIS, Calif., August 4, 2023 (Newswire.com) - Mars Energy Group, a holding company for commercial solar companies, is pleased to announce the acquisition of Ready Home Energy via its subsidiary Solara Home Energy. With this addition, Ready Home Energy becomes the fourth company to join Mars Energy's portfolio, which already includes NewGen Energy (the platform company), Solara Home Energy, and SolarCare+.

Ready Home Energy, located in Rocklin, specializes in catering to builders within the new home construction market. Due to the recently enforced Title 24 Building Standards Code in California, all new residential builds are now required to incorporate solar panels. The acquisition of Ready Home Energy enables Solara to expand its residential business into the new construction solar market.

"New home development plays a vital role in the growth of our home energy business," said Abe Emard, the CEO of all of the Mars Energy portfolio companies. "Ready Home Energy's exclusive relationships with builders, their technology stack, and their talented team will allow us to scale and expand our footprint both regionally and nationally." 

Britton Nilsen, legacy CEO of Ready Home Energy, expressed excitement about the acquisition and future growth, stating, "We are thrilled to be a part of the Mars Energy Group and having a larger company behind us. With the additional resources at our disposal, we are eager to expand our operations and continue providing the best possible services for our valued customers."

"Solara and the rest of the Mars Energy family companies are delighted to partner with Ready Home Energy. We are continually looking for strong solar companies that can join the Mars Energy family and benefit from the economies of scale we have while preserving the small company culture," stated Manvendra Saxena, founder and Executive Chairman at Mars Energy Group. 

About Mars Energy Group

Mars Energy Group is a holding company that acquires solar companies and provides post-acquisition support by utilizing technology, implementing systems, and driving process improvements.

About NewGen Energy (platform company of Mars Energy)

NewGen is one of the largest solar developer and EPC companies, serving various market segments including agriculture, commercial, industrial and non-profits.

About Solara

Solara Home Energy specializes in residential solar panel installation services in California. 

About Mars Equity Partners

Mars Equity Partners is a lower middle-market private equity fund in Northern California.

Source: MARS Energy Group