Searchlight Capital Partners portfolio company Integrated Power Services (IPS) has acquired Bold Renewables from Right Lane Industries. Bold, based in Windsor, Colorado, is the exclusive OEM provider of field service, spare parts, and preventive maintenance for Advanced Energy’s utility-scale solar inverters. Right Lane carved Bold out of Advanced Energy in 2019 and, alongside management, grew it into a profitable standalone business serving solar operators across North America.
IPS, headquartered in Greenville, South Carolina, specializes in aftermarket repair and field services for power equipment. It operates over 110 locations across North America, the UK, and the Caribbean. The acquisition aligns with Searchlight’s strategy of investing in strong corporate carveouts with growth potential under independent ownership.
Terms of the deal were not disclosed. FMI Capital Advisors advised Right Lane and Bold, with Taft Stettinius & Hollister as legal counsel. Akerman served as legal advisor to IPS.
Source: PE Hub · Summarized by HeadlinesBriefing