By David Ortiz
PBN Staff Writer
BRISTOL – Renewable energy construction company SolarWrights Inc. today announced it has acquired Kosmo Solar Inc., a Springfield, Mass.-based alternative energy solutions provider, for an undisclosed sum in cash and stock.
Kosmo Solar’s reputation within the industry and strong commitment to social responsibility and conservation were among the reasons SolarWrights chose to acquire the firm, Robert W. “Bob” Chew, SolarWrights’ president and founder, said in a statement today. The union of the two firms is a perfect fit, he said: “The talent and expertise at Kosmo Solar is very impressive.”
The Springfield office has seven full-time employees and one part-time worker, Chew added. Their addition gives SolarWrights a total staff of 36.
The acquisition – SolarWrights’ first – is part of a planned expansion strategy, according to Steve Townsend, chairman of SolarWrights’ board and the former chairman and CEO of United Natural Foods Inc., a leading distributor of organic and natural food products.
“Because both companies provide such high-quality renewable energy solutions, we anticipate a seamless fusion of operations, which will enable us to rapidly reach new customers and markets,” Townsend said.
The acquisition will expand Solarwrights’ reach into central and western Massachusetts, and will provide a distribution center for the Bristol-based company’s offices in New York, Vermont, Connecticut, Rhode Island and Massachusetts, said Mark Nelson, SolarWrights’ vice president of business development. In addition, said Chew, it is expected to add $2 million to Solarwrights’ revenue in 2008.
Mike Kocsmiersky, Kosmo Solar’s founder and president, has been named vice president of research and development for SolarWrights. He will continue to serve as general manager of the Springfield office.
SolarWrights designs and installs photovoltaic, solar-thermal and wind-energy systems for commercial and residential applications throughout the Northeast.
The company was honored with the 2007 Excellence in Entrepreneurship award from Providence Business News, at the annual Business Excellence Awards program. It was also honored by PBN last year as one of the fastest-growing private businesses in Rhode Island and one of the state’s “Best Places To Work.”
SolarWrights Inc. – founded in 1977 as solar contracting firm R.W. Chew Co. Inc. – is an alternative energy contractor focusing on the design and installation of photovoltaic, solar-thermal and wind-energy systems for commmercial and residential use. Based in Bristol, it also has offices in Connecticut, Massachusetts, New York and Vermont. To learn more, visit www.SolarWrights.com.
