GLOBAL LEADER IN SOLAR TECH HAS BRIGHT FUTURE WITH NEW GROWTH CAPITAL FACILITY
“It was a pleasure to work with the team at Business Capital. Their extensive knowledge of the U.S. debt market was critical in allowing us to establish independence from our parent company and become self-sustainable. This new credit facility will help us manage our working capital needs as we execute our plans for growth.” – Clint Graham, VP of Finance, KACO new energy
KACO new energy is a leading manufacturer and distributor of PV inverters for use in residential, commercial, and utility solar installations in the US and Canada. The Company is at the forefront of solar technology, offering leading-edge utility-scale solutions for some of the largest solar projects in the US. Our client is a wholly-owned subsidiary of its foreign parent company, a global leader in electro-technical engineering for more than 100 years with operations or subsidiaries in more than 10 countries on four continents.
According to industry and media experts, solar energy is one of the fastest-growing sectors of our nation’s economy, with workers being added 12 times faster than to the overall economy; solar power installations are expected to more than double in 2016 and, by 2020, sunlight will generate as much as 3.5% of the country’s electricity. To take advantage of the projected boom in both the residential and utility-scale solar industries in the US, KACO was in need of immediate working capital to expand its operations.
Business Capital was introduced by a lender who was unable to provide a credit facility at that time, but was very interested in securing the treasury management business. BizCap was able to deliver financing which will provide the working capital and put KACO in a strong and independent position to take advantage of the growing solar tech market in the US.
“We are excited to have played a part in making it possible for our client to provide more clean energy options and jobs here in the US. Utility customers and regulators are increasingly demanding that electricity come from clean sources, like solar and wind and KACO is now in a position to benefit America’s economy and the environment.” — Chuck Doyle, Managing Director, Business Capital