October 13, 2008

Boston, MA, USA: Riverside Partners Acquires Solar Works, Inc. and SolarWrights, Inc.

Riverside Partners, a Boston-based private equity firm, announced today the acquisition and merger of Solar Works, Inc. and SolarWrights, Inc. into the largest solar energy integrator in the Northeast.

The new company brings together the region’s leading designer and installer of commercial solar systems with the region’s largest residential solar energy provider. Driven by greater scale, superior customer service and extensive sales and marketing capabilities, the new company is well positioned to play a meaningful role in the growing renewable energy industry. In addition to solar electric and solar thermal expertise, the company will provide its customers with wind energy solutions through the integration of WindWrights, the wind division of SolarWrights.

Combined, Solar Works and SolarWrights will leverage more than 30 years of renewable energy expertise and a seasoned staff of 110 employees to provide a full spectrum of sales, service and support to residential and commercial customers in the Northeast. With over 2,000 combined installations, the new entity has the experience and logistical capabilities to deliver quality solar electric, solar thermal and wind installations from large commercial projects to smaller residential customers.

“We are delighted to be bringing together these two leading renewable energy companies, both of which have a track record of outstanding growth and high levels of customer satisfaction,” said David Belluck, general partner at Riverside Partners, which focuses on technology and healthcare investments. “This merger and investment by Riverside brings together the people, expertise and financial resources to create a premiere company capable of achieving broad expansion and growth while continuing to provide exceptional customer service.”

“We are pleased to be moving into this new level of growth and expansion with such a well respected industry leader as Solar Works,” said Bob Chew, founder and president of SolarWrights. “We see excellent opportunities to grow our customer base and solidify our position as the leading solar integrator in the Northeast."

“SolarWrights and Solar Works share a common business philosophy and passion for renewable energy and quality customer service,” said Ron French, president of Solar Works. “We are excited to be joining forces. Together, we will provide a full spectrum of capabilities, enabling us to better support the needs of our existing and future customers as they take action to address energy independence and climate change.”

Both Solar Works and SolarWrights doubled their sales in 2007. The merger, which combines the existing offices located throughout New England, sets the stage for the addition of green collar jobs throughout the region as the new company positions itself for future growth.

Further details about: Riverside Partners, Solar Works, Inc. and SolarWrights, Inc.