Real Goods Solar, by receiving shareholder approval, has acquired Mercury in an all-stock transaction totaling around 8.3 million shares of Class A common stock.
Mercury Energy, which is widely known as Mercury Solar Systems, has completed around 2,000 solar systems or 60MW in total installations for commercial, residential and utility customers since the company was founded in 2006.
Mercury brings to Real Goods Solar around 50 employees, in addition to physical assets, operational systems and customer base.
Real Goods Solar CEO Kam Mofid said the addition of Mercury significantly increases the overall depth and breadth of company’s capabilities.
"Following Mercury’s integration over the next few weeks, we expect to likewise accelerate our growth in the commercial sector," Mofid added.
Mercury Energy president Jared Haines said, "The entire Mercury team is very excited to be joining Real Goods Solar, a recognized pioneer and leader in solar energy."
