Marathon Advises SunPower on Sale of C&I Solutions Business to TotalEnergies
Marathon Capital is pleased to announce TotalEnergies (NYSE:TTE) recently signed a definitive agreement with SunPower Corporation (NASDAQ:SPWR) to purchase its Commercial & Industrial Solutions business for up to $250 million, including $60 million of earn-out, subject to regulatory evolution. The transaction is expected to close in early Q2 subject to the satisfaction of customary closing conditions.
Following a thorough process involving discussions with a number of parties, and upon the unanimous recommendation of a special committee of SunPower’s independent directors (Special Committee), the acquisition has been approved by both companies.
Marathon Capital serves as exclusive financial advisor to the Special Committee.