CUI Global Enters Agreement to Acquire Reach Construction Group

CUI Global Inc. has entered into a definitive agreement to acquire Reach Construction Group LLC, an industry-leading solar construction company.

The transaction will consist of third-party debt and company equity valued at approximately $37 million. The acquisition is expected to close within the next 20 days, subject to customary closing conditions.

Headquartered in Apex, N.C., Reach Construction Group is an engineering, procurement and construction (EPC) company with expertise in the renewable energy industry. Reach has a contractual backlog for 2020 exceeding $100 million. The acquisition is expected to be immediately accretive to CUI Global’s consolidated results.

“At Reach, we are excited to become a part of the CUI Global energy team and to help lead the way toward a net-zero carbon emissions future,” says Brandon Martin, founder and CEO of Reach.

“With solar accounting for 40% of all new electric generating capacity in 2019, the acquisition of Reach gives CUI Global a competitive advantage over other traditional energy companies who have yet to make the transition toward a clean energy future,” he adds.

CUI Global Inc. is a publicly-traded company dedicated to maximizing shareholder value through the acquisition and development of companies to create a diversified energy infrastructure services platform. As a publicly-traded company, shareholders can participate in the opportunities, revenues and profits generated by the products, technologies and market channels of CUI Global and its subsidiaries.

The post CUI Global Enters Agreement to Acquire Reach Construction Group appeared first on Solar Industry.

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