TUCSON, USA: Global Solar Energy Inc. (Global Solar), a leading manufacturer of flexible solar technology, has engaged FTI Capital Advisors, LLC (FTICA) member FINRA/SIPC, the wholly owned investment banking subsidiary of FTI Consulting, Inc., to conduct an asset sale of its portable products business. Through this sale Global Solar will be better positioned to focus on and grow other key business units serving the building integrated photovoltaic (BIPV) market.
Global Solar’s Portable Solar Business is the leading lightweight, high-efficiency portable solar power solution for military applications, mobile professionals and outdoor enthusiasts. Global Solar’s Portable Solar Business sells its products to more than 20 military customers and has commercial sales through retailers and OEMs around the globe.
Commenting on the decision to sell the Portable Solar Business, CEO Dr. Jeffrey Britt stated: “The Portable Solar Business is positioned to recognize a fourth straight year of strong revenue and profitability. The time has come for Global Solar to realize value from the business and identify a buyer who will take the product line to the next level. Serving select markets which require lightweight power sources, these innovative solar products offer a unique opportunity to own a growing, profitable solar enterprise that generates strong, positive cash flow.
“Additionally, the sale of the portable solar business enables Global Solar to increase focus on our core product lines, namely Copper Indium Gallium diSelenide (CIGS) solar cells for OEMs such as Dow Solar and the company’s commercial-scale flexible modules ideal for building integrated applications.”
The company does not anticipate any disruption in production or service to its Portable Solar Business customers during the sale process.