CHICAGO, March 28, 2017 /PRNewswire/ -- Marathon Capital is pleased to announce that IGS Solar, a leading turnkey commercial and residential solar provider based in Ohio and an affiliate of IGS Energy, and ORIX USA, a division of leading integrated financial services group, ORIX Corporation (ORIX), have partnered to develop, acquire, own, and operate a nationwide portfolio of commercial and industrial solar energy projects. Marathon Capital acted as the exclusive financial advisor to IGS Solar in arranging the capital commitment from ORIX. Marathon Capital's extensive experience in the commercial and industrial solar sector served to evaluate a range of capital sources and transaction structures, culminating in the partnership with ORIX USA to fund IGS Solar's growing project pipeline.
"We look forward to serving as a long-term partner with IGS Solar as we both expand our solar energy footprint across the country. Together, we are well-positioned to reach more of the commercial and industrial solar market," said Barry Gold, Managing Director and Head of ORIX Infrastructure and Renewable Energy.
According to Scott White, President and CEO of IGS Energy, "Our alignment with ORIX fits closely with our long-term approach. We share the same culture of innovation, commitment to delivering exceptional customer experiences, and making solar accessible, particularly to organizations that haven't previously been able to consider it due to the upfront costs." The partnership was made possible through advisement by Marathon Capital, "who was very effective in advising through the entire process," explained White.
About Marathon Capital
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the energy sector. Marathon Capital is a three-time recipient of the "Best Renewable Asset M&A Advisor" Award (2013, 2014, 2016), as well as the "Renewable Generating Project Finance Deal of the Year" Award (2016) in Power Finance & Risk's Annual Power Finance Deals and Firms Awards. www.marathon-cap.com
About IGS Solar
IGS Solar, a turn-key commercial and residential solar provider with significant solar assets under development, provides businesses, homes, and communities with an opportunity to participate in creating a sustainable energy future with no upfront investment. As an affiliate of IGS Energy, IGS Solar is dedicated to delivering innovative solar energy solutions. www.igssolarpower.com
About ORIX USA
ORIX USA is a wholly-owned subsidiary of ORIX Corporation, a Tokyo-based, publicly-owned international investment and financial services company that was founded in 1964 and currently operates in 37 countries and regions worldwide. As ORIX Corporation's subsidiary operating in the Americas, ORIX USA invests its capital in a variety of sectors – including infrastructure and renewable energy. ORIX USA's infrastructure and renewable energy investment team has deep expertise in the sector and the ability to structure transactions in flexible ways that work for all parties. www.orix.com.
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SOURCE Marathon Capital