TechGROWTH, ĢƵ angel funds celebrate Ecolibrium Solar Unirac acquisition
Unirac, a North America manufacturer of solar photovoltaic mounting systems, has successfully completed the acquisition of Ecolibrium Solar, a prominent solar racking manufacturer headquartered in Athens, ĢƵ. Critical early support and lead investment in Ecolibrium Solar came from both TechGROWTH ĢƵ Fund, which is part of ĢƵ University’s Voinovich School of Leadership and Public Affairs, and the East Central ĢƵ Tech Angel Fund, along with investment from the Queen City Angels in Cincinnati and the ĢƵ TechAngel Fund, a Rev1 Ventures managed fund in Columbus.
“TechGROWTH is proud to have supported and guided Ecolibrium Solar into becoming yet another entrepreneurial success story in southeastern ĢƵ,” Lynn Gellermann, executive director of TechGROWTH, said. “As a backer to these funds, the ĢƵ Third Frontier program continues an outstanding record of sustained public-private partnership to produce technology companies with innovative market solutions across ĢƵ.”
The angel investment groups noted their pride in being part of Ecolibrium Solar’s ongoing achievement.
“We are thrilled at Ecolibrium Solar’s achievement,” said Parker MacDonell, managing director of the ĢƵ TechAngel Funds at Rev1 Ventures in Columbus. “This acquisition is proof and reinforcement of the importance of the collaboration between active investors to the ĢƵ business community.”
ĢƵ’s highly collaborative angel groups, Queen City Angels and ĢƵ TechAngels, have frequently reviewed opportunities, conducted diligence, and co-invested together. Both funds provided significant board leadership for Ecolibium Solar over the years.
“Ecolibrium Solar’s story exemplifies the type of success we wish for all of our portfolio companies,” said Ted Capossela, Queen City Angels investor and member of Ecolibrium board. “When we choose to invest in start-up companies, we are investing in future economic development and job growth in ĢƵ.”
The acquisition represents a significant expansion of Unirac’s product portfolio, adding Ecolibrium’s commercial flat roof, residential rail-less, and metal roof products to its product line, already recognized as a leader in the industry.
“We are excited about the Ecolibrium team and the products they have brought to the market. They share our passion for customer success and have a strong focus on distribution,” said Peter Lorenz, Unirac CEO. “Better solar starts with great partnerships. The increased scale in production, engineering services, and field support allow us to help customers reduce costs and grow their solar business, especially on commercial projects.”
Unirac plans to integrate Ecolibrium’s team and products over the next few months. “As we worked together to develop this partnership, the great fit between our teams became clear,” said Sam Veague, former CEO at Ecolibrium. "With a similar focus on customer experience, quality, and product development, our combined team's strength enhances our ability to provide our customers with exceptional products and services."
Founded in 2007 by ĢƵ University and the ĢƵ Third Frontier program, TechGROWTH is a $67M program providing intensive professional services and seed-stage investment capital to technology companies and entrepreneurs in southeast ĢƵ. TechGROWTH is one of many state and federal partnerships at the Voinovich School, which provides public service leadership for the state, region and university in economic and community recovery.
For further details on the acquisition, visit .