Right Lane Industries Completes Sale of Bold Renewables to Integrated Power Services

MIAMI--(BUSINESS WIRE)--Right Lane Industries ("RLI"), a long-term industrial holding company, today announced that it has completed the sale of Bold Renewables, LLC ("Bold") to Integrated Power Services ("IPS"). Financial terms of the transaction were not disclosed.

Headquartered in Windsor, Colorado, Bold is a provider of field service, spare parts, preventative maintenance and training for utility-scale solar inverters. Right Lane acquired Bold in 2019 through a carveout of Advanced Energy’s central solar inverter service business. Since then, RLI and Bold’s management team have built a standalone business providing critical maintenance, repair and aftermarket parts to solar power operators across North America.

"Bold is a great example of what we look for in a corporate carveout: a good business, with the opportunity to do more under independent ownership,” said Eric Mara, Founder and CEO of RLI. "Brenda Clarke, Cole Rickers, and their team took a small division and built it into a profitable standalone business that solar asset owners rely on to keep their plants running. IPS is a natural home for Bold, with the scale and service footprint to support the company's next phase of growth. We thank the Bold team for their partnership and wish them continued success."

"Right Lane gave us the independence and support to build Bold on our own terms," said Brenda Clarke, President of Bold Renewables. "Joining IPS allows us to bring our inverter expertise to a much larger customer base while continuing to deliver the responsive, hands-on service our customers expect. We are excited about what comes next."

Advisors

FMI Capital Advisors served as exclusive financial advisor to RLI and Bold Renewables, and Taft Stettinius & Hollister LLP served as legal counsel. Akerman LLP served as legal counsel to IPS.

About Right Lane Industries

Right Lane Industries is a long-term industrial holding company that specializes in complex transactions, including corporate carve-outs, restructurings and special situations, where operational focus and patient capital create value. RLI holds its companies with no fixed investment horizon and reinvests in them for long-term compounding. For more information, visit www.rightlaneindustries.com.

About Integrated Power Services

Integrated Power Services (IPS) is a provider of electric motor, generator, drive and power management repair and field services for industrial, commercial and utility customers across North America. For more information, visit www.ips.us.