Byron’s Smart Energy hits the market via KPMG
Smart Energy, a Byron Bay-founded supplier and installer of residential rooftop solar and battery systems, is on the market as it searches for a backer to expand a business that is growing rapidly.
Sale flyers have been distributed to potential suitors, sources told Street Talk, and the process is being run by KPMG Corporate Finance partner Helen Sutherland. The three owners – Beau Savage, Elliot Hayes and Jasper Boyschau – are telling interested parties they are open to what a deal looks like, hoping to bring on a partner to get annual revenues to $200 million.
Smart Energy is a supplier and installer of residential solar panels. Natalie Boog
So far, prospective buyers have been told the company is making about $50 million in annual revenues and is profitable. Revenues have grown 19 per cent compounded annually since 2018, and Smart Energy claims to have signed up more than 20,000 customers to its solar and battery plans.
At its core, Smart Energy supplies and installs residential solar panels and battery systems – along with electric vehicle chargers and virtual power plants – with no upfront cost. It gives customers the option of paying for installation through the savings they make from moving to solar panels.
A virtual power plant pools thousands of households with rooftop solar and batteries. Households use their batteries to store excess energy generated through rooftop solar, and can sell it back to the wholesale market.
KPMG is expected to pitch Smart Energy as a customer acquisition engine, allowing a buyer access to direct sales. Another selling point? Its renewable energy credentials amid a transition away from fossil fuel electricity generation.
It has been a busy market for solar panel installers. Korean
Read more on afr.com
