PetersenDean Roofing & Solar Acquires Haleakala Solar: Hawaii’s Largest Solar And Battery Installer

The newly acquired company is poised to add approximately 1,000 new
jobs and grow to approximately $100 million in sales over the next 24
months.

FREMONT, Calif.–(BUSINESS WIRE)–PetersenDean Roofing & Solar, the nation's largest privately held solar
and roofing company, has just acquired Hawaii-based Haleakala Solar.
Founded in 1977, Haleakala Solar is Hawaii’s largest solar and battery
installer.

Haleakala Solar has been installing photovoltaic (PV) solar and water
heating systems as well as battery storage solutions for more than 40
years and has completed more than 15,000 projects. There are plans to
add roofing installations in the first quarter of the transition. The
company operates on three of the Hawaiian Islands and plans to expand
into a fourth in 2018. The newly acquired company is poised to add
approximately 1,000 new jobs and grow to approximately $100 million in
sales over the next 24 months.

Jim Whitcomb, founder of Haleakala Solar, approached Jim Petersen, CEO
and President of PetersenDean Roofing & Solar, late last year for a
strategic purchase. “It seemed like the perfect synergy between the two
companies,” stated Whitcomb. “In 40 years, Haleakala has grown into the
largest residential PV installer in Hawaii so it would only make sense
to go straight to the largest rooftop PV installer in the United States
when the time came to hand over the reins. We share a commitment to
excellence and PetersenDean’s size, organization, and impeccable
reputation will take the company to a new level.”

This new acquisition now positions PetersenDean as the nation’s largest
publicly- and privately-held roofing and solar company. “PetersenDean
is a perfect fit for Hawaii given our size and product offerings, in
addition, we have the finance options to truly help the island community
to install a new roof, solar or a home battery at very low monthly
payments,” said Petersen. “We look forward to growing our business in
Hawaii and adding more American jobs in doing so.”

Gary Liardon, the President of the Consumer Division of PetersenDean
Roofing & Solar, is heading up this transition as well as the additional
acquisitions planned across the United States in 2018. “We are excited
to add Mr. Whitcomb and the Haleakala team to the ranks. Mr. Whitcomb
will stay on and take an active role in the sales development segment of
the company in Hawaii as we add new verticals to the market and expand
to the remaining islands.”

This planned expansion will increase employment in this Hawaiian segment
of the organization to over 1,000 jobs in the next 24 months. Currently,
Haleakala Solar employs about 125.

Hawaii has long been a leader in renewable energy. In 2015, it set a
mandate that 100 percent of the state’s electricity come from renewable
energy by 2045. Regulators also just approved Hawaii Electric’s grid
modernization plan along with a suite of demand response and solar
tariff programs.

“Solar is a critical part of the state’s energy portfolio. The islands
are a virtual incubator for all new technology in this space especially
because of the state mandates that require all of the islands to be
operating on 100 percent renewable energy by 2045,” said Liardon.
“Hawaii already boasts some of the highest
shares of renewable energy in the country, all on islands isolated
from the stability of neighboring grids. That’s made them a natural
testing ground for new technologies and regulatory models, including
battery-backed solar and wind farms, aggregated demand response and
energy storage, peak-shifting electric vehicle charging, and
voltage-smoothing smart inverters and grid power electronics.”

PetersenDean continues to represent stability and innovation in both
renewable energy and home improvement markets. The company’s solid
fiscal performance and scalable systematic approach are paving the way
for substantial growth over the next few years. “With the balance sheet,
leadership, and strategic growth roadmap currently in place the company
is on pace to grow from $400 million to over $1 billion in revenues over
the next few years,” said Petersen.

About PetersenDean Roofing & Solar

Founded in 1984 by Jim Petersen, PetersenDean is the largest,
full-service, privately-held roofing and solar company in the United
States. Specializing in new residential and commercial construction,
PetersenDean works with some of the nation's largest builders and
developers. With more than a million roofs under its belt, the Fremont,
Calif.-based company employs 3,000 workers and operates in seven states:
Arizona, California, Colorado, Florida, Nevada, Oklahoma and Texas.
Please visit http://www.petersendean.com/
for more details.

Contacts

PetersenDean Roofing & Solar
Paul Beckman, 510-371-6551
Strategic
Sales and Market Manager
[email protected]