Virgo is backing a management buyout of Nautilus from an investment affiliate of Starwood Energy Group Global, LLC. Eli Aheto, a Partner at Virgo, will join Nautilus’ board along with Perry Cole (Director and the Chairman of the Board).
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.
Founded in 2009 by Jim Rice, CEO, and Laura Stern, President, Nautilus is a full service solar solutions provider serving the commercial and industrial (C&I) markets. The company also offers a suite of asset management functions designed to enhance system performance, mitigate risk and protect value for solar asset owners.
Nautilus has been involved in over 100 MW—both distributed and grid tied systems—of solar solutions in the United States and Canada.