Civic Renewables, a national parent company to a growing network of local clean energy businesses, has announced the acquisition of Florida Power Management (FPM), a prominent solar company operating in Orlando and Tampa. This strategic move strengthens Civic’s commitment to empowering local solar businesses and fostering the growth of clean energy across the United States.
Civic will act as the parent company to Florida Power Management, effectively combining the operational efficiencies and resources of a larger organization with FPM’s unwavering dedication to quality, service, and integrity. This acquisition marks Civic’s third since its inception earlier this year, showcasing its rapid expansion and commitment to building a robust network of local solar companies.
Civic Renewables is backed by GEF Capital, a Washington, D.C.-based private equity firm specializing in climate change and pollution mitigation initiatives. Leon Keshishian, founder, and CEO of Civic Renewables, emphasized the strategic alignment of the acquisition with their mission, stating, “Acquiring Florida Power Management perfectly aligns with our mission to empower local solar businesses. FPM’s commitment to delivering high-quality solar installations in Florida strengthens our vision of supporting regional expertise and accelerating solar adoption across the nation. With the backing of GEF Capital Partners, we’re excited to integrate FPM into the Civic Renewables family and continue building a sustainable business model that helps local solar thrive.”
Matthew LeStarge, founder of Florida Power Management, expressed his enthusiasm for the opportunity to leverage the expertise and resources of Civic to expand their operations. He highlighted the challenges faced by many local solar companies and emphasized the strategic advantage of this partnership, stating, “I’m excited for the opportunity to grow and scale our work with the backing of experienced industry leaders at Civic. While many local solar companies are shrinking, this partnership will be the catalyst for our thoughtful expansion. Joining the Civic Renewables family allows us to maintain our local edge, delivering top-tier service to our customers, while benefiting from the scale and efficiency of a larger organization.”
FPM’s expertise and reputation have earned them recognition from major solar finance providers, who have chosen them as the exclusive or primary provider in Florida for completing installations for contractors who have ceased operations. This demonstrates FPM’s commitment to quality and its ability to deliver reliable solar solutions.
Civic Renewables is dedicated to accelerating the transition to clean energy by empowering local solar businesses. The company’s commitment to supporting regional expertise and accelerating solar adoption across the nation is evident in its active pursuit of opportunities with local businesses nationwide.
In June, Civic Renewables announced its first two acquisitions of local solar installation businesses, Green Rack Solar and Ipsun Solar, demonstrating its commitment to building a strong network of local solar companies. With the acquisition of Florida Power Management, Civic Renewables continues to solidify its position as a leading force in the clean energy sector, empowering local solar companies and accelerating the transition to a sustainable future.
