Eco Innovator November 2011

Equity Capital

Solar Shop Troubles for Private Equity Investor

The solar sector received a set back when receivers were appointed to Solar Shop Australia Pty Ltd under the provisions of a debenture charge in favour of Westpac Banking Corporation.

Solar Shop retails and installs photovoltaic solar panels and its commercial division focuses on large scale PV installations and sun farms. The business continues to trade "business as usual" in the short term as the receivers, Ferrier Hodgson, endeavour to find a purchaser of the business as a going concern. The company is still taking orders with deposits kept in trust by the receivers.

In May 2009, Solar Shop Australia received private equity from the Harbert Australian Private Equity Fund I (HAPE I). It was HAPE I's first portfolio investment. Initially a minority stake, in 2010 its equity interest increased to 50.2 per cent via the acquisition of shares from a minority investor and HAPE I's participation in the re-capitalization of the company.

 

 

 

 



 





Search Eco Investor