PowerSecure increases ownership of LED and Solar businesses to 100 percent
In addition, PowerSecure acquired Powerline EHV & Safety Training, LLC, a leader in utility infrastructure safety training. This acquisition further enhances the company’s strong focus on its safety programs. The company completed these three transactions for approximately $1.3 million in cash and approximately $3.0 million in common stock, for a total aggregate value of approximately $4.3 million.
"These transactions reflect our growing confidence in our solar and LED businesses and allow us to capture full value for our success, while our continued investments in the safety and training of our utility infrastructure teams reflect our commitment to serving our utility partners with the safest and most productive crews in the industry,” said Sidney Hinton, chief executive officer of PowerSecure.
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