Press Releases

June 21st, 2017

Shoals Technologies Group Announces Investment by Oaktree

Leading renewable energy investor and solar industry pioneer partner to drive growth and innovation in the global solar market

June 21, 2017 08:00 AM Eastern Daylight Time

LOS ANGELES–(BUSINESS WIRE)–Shoals Technologies Group (“Shoals”), the global leader in solar electrical balance of systems,announced today an investment by funds managed by the Power Opportunities group of Oaktree Capital Management, L.P. (“Oaktree”). Terms of the investment were not disclosed.

“As the solar market matures, customers are demanding high-quality and long-lasting system solutions that deliver maximum value”

Founded in 1996, Shoals designs and manufactures a diverse range of technically advanced and highly reliable products for solar and energy storage projects, including combiner boxes, junction boxes, wiring, and monitoring solutions, among others. The company has deployed its products on more than 25 GW of solar projects in markets across North America, Europe, Asia and Africa.

“We are very proud of the innovation, performance and reliability we have brought to the solar industry over the past two decades,” said Dean Solon, Founder and CEO of Shoals Technologies Group. “Today, we are seeing incredible demand for our BLA™ solution, an integrated wire harness that eliminates combiner boxes and significantly reduces installation cost. Partnering with Oaktree provides Shoals with the resources, expertise, and support to help drive further growth and success in the rapidly expanding international solar and energy storage markets.”

Oaktree’s Power Opportunities group has a strong track record of investing in successful companies in the energy industry. The team seeks investments in leading companies that provide equipment, services and software used in the generation, transmission, distribution, and consumption of electricity and other energy and utility resources. Targeting growing, successful businesses, Oaktree partners with company management to drive growth and value creation.

“As the solar market matures, customers are demanding high-quality and long-lasting system solutions that deliver maximum value,” said Peter Jonna, Senior Vice President of Oaktree’s Power Opportunities group. “Shoals delivers the highest standards of innovation, quality, and performance within the solar equipment industry. We have long admired Shoals as the leader in this market, and we are very excited to partner with Dean and his team to support their continued growth and success.”

About Shoals Technologies Group

Shoals Technologies Group is a leading manufacturer of balance of systems solutions. Consistently providing customers with innovative designs and superior quality products has contributed to the company’s exponential growth since its founding in 1996. With over 25 GW of BOS products deployed globally, Shoals maintains a diverse portfolio of solar balance of systems products, including, combiner/re-combiner boxes, disconnecting combiner boxes, custom harnessing solutions, junction boxes, wire, in-line fuses, racking and monitoring solutions.

About Oaktree

Oaktree is a leading global investment manager specializing in alternative investments, with over $100 billion in assets under management as of March 31, 2017. The firm emphasizes a value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.

Contacts

Antenna Group for Shoals Technologies Group
Kimberly Setliff, 415-977-1942
shoals@antennagroup.com

March 16th, 2015

Shoals’ MultiLink™ Junction Box Receives US Patent

Portland, TN, March 16, 2015 – Today, Shoals Technologies Group, the global PV Balance of Systems leader, announced US Patent 8,962,998 from the United States Patent and Trademark Office, covering solar panel junction boxes capable of integrating a variety of modular accessory modules. This patent affords Shoals the exclusive rights to the marketing and sale of the innovative junction box to solar manufacturers all over the world. Read more…

February 17th, 2015

Shoals Issued Patent for PV Wire Harness with In-Line Fuses

Portland, TN, February 17, 2015 – Today, Shoals Technologies Group, the global PV Balance of Systems leader, announced being granted US Patent 8,937,249 from the United States Patent and Trademark Office, covering solar energy wire harnesses with integrated in line fuses. This patent affords Shoals the exclusive rights to the marketing and sale of their innovative harness solution to solar installations all over the world.

Specifically, the wire harness represented by this patent connects multiple strings of solar modules to a single combiner box in the field; included in the harness are in-line fuses with optional blocking diodes, providing each string of PV modules its own fuse. Thus, in the event of a blown fuse, the damage is contained to a singular string of modules, rather than a more widespread event. The quality pre-fabrication and modular design of Shoals’ patented harness creates faster installation, simpler trouble shooting, and far easier repairs. The sum of which provides EPC installers lower labor and material costs and far better operations and maintenance.

“This patent is the result of years of continued innovation by Shoals and our team of quality engineers. This product has been supplied to gigawatts of installations around the globe, and is one of the staples of Shoals’ portfolio of balance of systems products. Our entire team is thrilled with being rewarded for our ingenuity with this patent and we look forward to achieving even greater innovative heights” said Dean Solon, President and CEO of Shoals Technologies Group.

About Shoals Technologies Group

Shoals Technologies Group is a leading manufacturer of balance of systems solutions. Consistently providing customers with innovative designs and superior quality products has directly contributed to the exponential growth since its founding in 1996. With over 15 GW+ of BOS products deployed globally, Shoals maintains a diverse portfolio of PV balance of systems products, including, combiner/re-combiner boxes, disconnecting combiner boxes, custom harnessing solutions, junction boxes, PV wire, in-line fuses, racking and PV monitoring solutions.

February 10th, 2015

PV Magazine – Downstream innovation and the O&M opportunity

Innovations in terms of racking abounded at SPI, with installation demonstrations frequently pulling big crowds amongst the crowded halls. BoS supplier Shoals Technologies Group made a splash and the distribution of wristbands to its wonderfully named “Best. Night. Ever.” party attracted a stream of visitors. Read more…

December 12th, 2014

Shoals Technologies Group Adds UL1699B Listing to SNAPshot Wireless Arc Fault Solution

PORTLAND, Tenn.– Shoals Technologies Group, a global leader in balance of systems components, announces the addition of UL1699B listing to the SNAPshot Wireless Arc Fault solution. With the growing adoption of National Electric Code (NEC) 2011, it is increasingly important to have a trusted solution that complies with the requirements. The SNAPshot Wireless Arc Fault Solution protects solar assets and property by detecting arcing at the string-level and disconnecting the inverter or charge components. Read more…

October 27th, 2014

Shoals Technologies Group and Synapse Wireless Unveil Roadmap for SNAPshot Solar Life Cycle Management Ecosystem at Solar Power International

Las Vegas, October 20, 2014 — Shoals Technologies Group, the leading manufacturer of photovoltaic (PV) Balance of Systems (BoS) components, and Synapse Wireless, a leader in wireless solutions that empower the Internet of Things (IoT), continue their partnership in solar innovation with the growing SNAPshot Solar Life Cycle Management Ecosystem.

Plans for the future include tracker control, panel care, and drone monitoring. Read more…