RMB Corvest Invests In Solar-Saver Solutions Partner
RMB Corvest Invests In Solar-Saver Solutions Partner. RMB Corvest, a leading private equity business, has invested in Sedgeley Energy, the exclusive provider of engineering, procurement and construction (“EPC”) and maintenance services to Solar-Saver, owner of the largest fleet of commercial solar photovoltaic (“PV”) systems in the Southern African region.
Founded in 2016, Sedgeley Energy designs, installs, maintains and monitors solar PV systems for the commercial and industrial sector. More specifically, Sedgeley Energy has developed a specialised ‘rent-to-own’ solar solution and has established a number of Solar-Saver vehicles to fund installations together with its long-term investment partners. Customers are offered a capex-free solution with the initial layout funded through Solar-Saver against a monthly charge for use of the solar PV system. Key Solar-Saver customers operate in the commercial property, retail, manufacturing, tourism and petroleum sectors. Sedgeley Energy also provides Solar-Saver customers with technical support and is known for its solutions-driven approach to projects.
Brendan Wiebols, executive: RMB Corvest, says that Sedgeley Energy’s track record and experienced management team, who have retained a significant shareholding in the company, made it a very attractive investment opportunity. “Given the challenges that businesses in Southern Africa face with regards to quality and stable electricity supply, we predict strong growth prospects. Additionally the very real drive of ESG requirements along with a focus on the global move to greener, cleaner energy means that the opportunity for further development is a given.”
“We believe that Sedgeley Energy and Solar-Saver will continue to expand their already well-diversified customer base going forward – both locally and throughout the SADC region. The offering of a capex-free solution with ongoing maintenance and monitoring are also key differentiators in the solar energy market,” notes Fahmida Potgieter, executive: RMB Corvest. Tim Frankish, a co-founder of the business, says that the deal will provide liquidity required to support its long-term growth plans: “We’re looking forward to partnering with our new shareholders to continue to exceed our customers’ expectations and grow our offering. With new opportunities opening up both in South Africa and the Southern African region, this is the ideal time for us to continue to build on the platform we have already established in the market.”
RMB Corvest also deems that this transaction fits well within the broader FirstRand Sustainable Development Goals. As such, RMB Corvest has the opportunity to gain entry into this sector at an early stage, backing a business with a strong, resourceful management team who have already built a credible brand in the market. The current research and development in the sector, due to the high demands placed on solar energy requirements, enables rapid innovation. Access to additional funds means that Sedgeley Energy is able to be a part of the continued advancement of PV engineering in Southern Africa.
With power currently a key focus area for countries across the globe, Sedgeley Energy is well positioned to expand on an already established customer base and set the standard for innovative monitoring and maintenance solutions for customers. We will all be working towards ensuring it reaches its full potential as a business,” concludes Wiebols.
