PMAX News & Events

Powell Max Ltd trading halted, news pending

Boston Solar announced a strategic partnership with Sunrite. The partnership is designed to give homeowners access to the most competitive lease and PPA rates available in the market today. The collaboration unites Boston Solar's installation expertise with Sunrite's flexible financing platform, creating a comprehensive offering for homeowners who want an affordable, predictable, and hassle-free path to solar energy. The company said, "Through the partnership, homeowners will gain access to: Industry-leading lease and PPA rates tailored to maximize monthly savings; $0-down financing options that lower the barrier to entry for solar adoption; Fast, streamlined approvals through Sunrite's advanced financing platform; Premium installation services delivered by Boston Solar's licensed, certified experts; Performance guarantees and long-term peace of mind, protecting system reliability and energy savings over time."

Powell Max has signed a non-binding letter of intent to acquire The Boston Solar Company, a vertically-integrated regional EPC solar installer. "Our move to begin the acquisition process for Boston Solar reflects that commitment. As demand for energy rises across the U.S., fueled by AI, automation, and rapid technological change, we believe Boston Solar offers a strong platform for long-term growth," said Geordan Pursglove, chairman and CEO of Powell Max. Pursuant to the LOI, the transaction is valued at $9M, including the assumption of up to $7M debt. Following closing, Powell Max expects to provide to Boston Solar up to $20M in working capital funding subject to the finalization of the definitive agreement and the company's ability to secure capital.

Powell Max has engaged RBW Capital Partners and Spartan Capital Securitiesto provide certain financial advisory and financial placement agency and investment banking services to Powell Max. The Securities and Brokerage Services are offered through Spartan and Dawson James Securities. Powell Max engaged RBW and Spartan as exclusive agents to the company in connection with evaluating, structuring, and executing potential strategic transactions. RBW and Spartan will provide strategic and financial advice to the Company, but will not be responsible for providing legal, accounting, tax, or other specialized advice.