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  • October 2011 (Revised November 2011)
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Verengo Solar Plus!

By: William A. Sahlman, Joseph B. Lassiter III and Liz Kind
  • Format:Print
  • | Pages:28
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Abstract

In the three years since Bishop and Button purchased Verengo in a leveraged buyout (LBO), the company had gone through dramatic changes. Initially a residential windows and insulation firm, after the economic recession of 2008 the company switched gears and began offering solar installations to local residential customers. Aided by favorable regulatory changes and a consumer financing partnership, Verengo's solar business took off and became the company's primary focus. By the end of 2010, Verengo had grown to $27 million in revenue and was the largest solar integrator in Southern California. In December 2010, Verengo raised $9.7 million in growth equity funding and was considering its options for future growth. Eager to expand to markets outside of Southern California, Bishop and Button knew that they had to carefully assess the firm's many opportunities and tightly manage its growth.

Keywords

Venture Capital; Private Equity; Growth Management; Restructuring; Renewable Energy; Corporate Entrepreneurship; Corporate Finance; Product Development; Energy Industry; California

Citation

Sahlman, William A., Joseph B. Lassiter III, and Liz Kind. "Verengo Solar Plus!" Harvard Business School Case 812-049, October 2011. (Revised November 2011.)
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About The Authors

William A. Sahlman

Entrepreneurial Management
→More Publications

Joseph B. Lassiter

→More Publications

Related Work

    • July 2012
    • Faculty Research

    Verengo Solar Plus! (TP)

    By: Joseph B. Lassiter III
Related Work
  • Verengo Solar Plus! (TP) By: Joseph B. Lassiter III
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