Sale of Company and Development Pipeline to:
Cypress Creek Renewables
FLS Energy ("FLS" or the "Company") was acquired by Cypress Creek Renewables ("Cypress Creek"). At the time, FLS was a leading owner, operator and financier of distributed generation solar projects and had developed more than 300 MWs of projects across North Carolina and other Southeastern states. In addition to managing the Company's owned asset portfolios, FLS provided complete in-house EPC solutions for distributed generation and utility-scale project development. The Company's growth and expansion was facilitated by a strategic investment from New Energy Capital.
Marathon Capital served as the exclusive financial advisor to FLS Energy and led a comprehensive market outreach initiative to identify a strategic partner for the FLS team and its innovative, fully-integrated approach to solar project development. Cypress Creek's long-term vision and established market penetration will be complementary to FLS' business model, development expertise and robust pipeline and will bolster the strategic value proposition on a regional and national scale.