Solar construction firm DSI lands equity investment
Solar system. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
June 7 (Renewables Now) - US utility-scale solar and speciality infrastructure contractor Directional Services Inc (DSI) has received an equity investment of an undisclosed amount from a group of investors led by Chicago-based Rising Point Capital.
Other equity partners that took part in the transaction include Landon Capital Partners and Ironwood Capital. DSI’s founders, Thomas Horne, Justin Keck, Tim Sealey and Brantley Turner, will continue to be among the company’s owners and will serve as both board members and advisors.
Based in Hope Mills, North Carolina, DSI operates through two divisions, namely Renewable Energy Solutions and Specialized Infrastructure Services. The renewables-focused segment is engaged in the completion of utility-scale solar power plants, energy storage, substations and electrical services. The firm has been doing business for the past 17 years.
DSI said it will rely on the fresh investment to meet increasing demand for renewable energy and infrastructure construction services. The firm will also receive additional capital through a subordinated debt facility provided by Ironwood. Its size was not disclosed either.