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

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.

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
[email protected]