Dave Doherty
Houston, TX (USA)
Role(s):
VP/SVP/Dept Head
Lonestar Capital
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Startup
Location:
Houston
Industry:
Venture Capital
Year Founded:
2008
Number Employees:
10-50 people
Description:
We are working on a $7-10 million equity raise for Lonestar Capital (LON.P, TSX Venture) to complete the acquisition of two top-ten California residential solar integrators that are the start of a consolidation play in the solar integrator space. Upon completion of the acquisitions, Lonestar will have projected 2008 sales of $15-17 million with YOY EBITDA of approximately $1.5 million. In addition, we are currently in negotiations with five additional integrators throughout the country, all of which are larger than these first two acquisitions.
Upon completion of the current acquisitions, Lonestar expects to immediately sign acquisition agreements with two of our five current targets, which will give us a national presence in this space.