Solar Works, Inc. Recapitalized by a Private Investor Group
Montpelier, VT, Oct 31, 2005 – Citing high demand for its services, Solar Works, Inc. today announced that it has expanded its executive management team with the addition of Ron French as CEO and Tim Seamans as COO/CFO. Additionally, the company has secured incremental financing through the sale of common stock to fund its future growth and expansion.
“I am very excited about having Ron and Tim on board to help guide the company to the next level,” said Leigh Seddon, President of Solar Works. “Solar Works has a wealth of experience with over 20 years as a leader in the renewable energy industry. We now have the additional management, technical and financial resources to effectively advance our business growth”
Mr. Seddon, the founder of Solar Works, will continue in his current capacity as company President. Mr. French, who has extensive sales and marketing experience with technical product and service companies such as WebMD, Metromedia Fiber Network and Apple Computer, will serve as the company’s chief executive. Mr. Seamans, most recently the CFO and Operations VP for both Quelsys, Inc. and Uniscribe, Inc., brings significant expertise to both financial and operational roles and will head up these key functions for the company.
“The opportunities in the solar industry are tremendous, ” said Ron French. “Solar Works has done some of the most significant and innovative projects in the industry. Our recent completion of the Stonyfield Farm project, the largest photovoltaic plant in the state of New Hampshire, being a case in point. Now as more commercial and residential customers begin to better understand not only the environmental but also the financial benefits of solar technology, Solar Works will be well positioned to provide superior renewable energy solutions.”
About Solar Works, Inc.
Solar Works, Inc. is a renewable energy systems integrator and developer, providing solar electric (photovoltaic), solar thermal and wind power systems for clients worldwide. Solar Works has expertise in engineering design, project management, system performance analysis, project financing and renewable energy credit programs. Founded in 1980, Solar Works is active in commercializing new technologies and developing renewable energy programs for both public and private sector clients. On-line at: www.solar-works.com.
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.merger.com.Back to Transactions