Powell Max to acquire The Boston Solar Company for $9M

Powell Max (PMAX) has signed a non-binding letter of intent to acquire The Boston Solar Company, a vertically-integrated regional EPC solar installer. “Our move to begin the acquisition process for Boston Solar reflects that commitment. As demand for energy rises across the U.S., fueled by AI, automation, and rapid technological change, we believe Boston Solar offers a strong platform for long-term growth,” said Geordan Pursglove, chairman and CEO of Powell Max. Pursuant to the LOI, the transaction is valued at $9M, including the assumption of up to $7M debt. Following closing, Powell Max expects to provide to Boston Solar up to $20M in working capital funding subject to the finalization of the definitive agreement and the company’s ability to secure capital.