Nautilus Solar Announces Management Buyout Backed By Virgo Investment Group

Nautilus Solar Energy, LLC, led by CEO Jim Rice and President Laura Stern, announced an investment and partnership in the company by Virgo Investment Group, L.P. Virgo is backing a management buyout of Nautilus from an investment affiliate of Starwood Energy Group Global, LLC. Nautilus offers a suite of asset management functions designed to enhance system performance, mitigate risk and protect value for solar asset owners. The Nautilus team has constructed or managed over $400 million in solar systems throughout the United States and Canada since its formation nearly a decade ago, representing over 100 megawatts in nearly 80 different projects. Virgo’s investment comes at a strategic time for Nautilus as more end-users are adopting distributed solar as an alternative to utility-provided power. As part of the agreement, Nautilus and Virgo will establish a dedicated finance vehicle to acquire and own distributed solar projects, as well as a funding facility for development and construction activities.