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OMERS Private Equity makes $100m growth capital investment in NovaSource Power Services

OMERS Private Equity, the private equity arm of OMERS, a pension plan for municipal employees in Ontario, has acquired a minority stake in NovaSource Power Services (NovaSource) for $100 million.

NovaSource is a specialist in solar operations and maintenance (O&M) services to utility, commercial, industrial, and residential customers, with over 20GW of solar assets under management. NovaSource operates a global footprint with a presence in North America, South America, EMEA, Asia, and Australia. It is the largest independent Solar O&M provider in the United States and globally.

The transaction is in partnership with NovaSource’s leadership team and Clairvest Group Inc, which will continue as the majority equity holder of NovaSource. The proceeds from the OMERS investment will be used to finance NovaSource’s continued growth. NovaSource has recently completed the acquisition of Heliolytics to expand its capabilities, and will continue to expand internationally in the months to come.

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