Solar Energy Developer with Recurring Revenue - Two Entities
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Diversified Solar Energy Development Company - Strategic Acquisition Opportunity
This dual entity company, with 10 years of market experience and strong local reputation, has primarily operated as residential and commercial solar developer, and recently expanding into Illinois Shines Approved Vendor solar credit and rebate management for installed systems across the state. The expansion of our new entity ilumen Consulting, LLC in 2024 added long term financial stability to the organization with pre-contracted 7-Year recurring revenue, niche revenue streams, while providing low customer acquisition costs for O&M services and system expansions for the primary construction entity, ilumen, LLC.
Complimentary Operations:
The foundational business operation is residential and commercial project development, with recent expansion to servicing and expanding 3rd party systems. The second entity, formed in 2024, offers strong diversification with contracted receivables, recurring revenue, and specialized/exclusive Illinois SREC services. This integration delivers low customer acquisition cost, better economics, and long-term stability.
Core Services:
• Residential and Commercial Development
• SREC Incentive and Rebate Asset Management
• System Engineering & Design Consultation
• Subcontracted Installation Services
• System Monitoring, Maintenance, and Repair
• Specialized Illinois Approved Vendor Revenue Streams
Competitive Differentiators:
• Strong Regional Reputation and Customer Retention
• Large & Complex Residential, Commercial, Energy Storage, Repairs & Maintenance
• Deep Expertise in Illinois Incentives (Illinois Shines & ComEd)
• Exceptional Customer Service and Support
• Organic Lead Generation Through Brand Reputation, Partners, and Referrals.
Market Advantages:
Operating in Illinois' top-tier solar market with strong demand, favorable state SREC policies, and substantial utility rebates.
Financial Highlights:
• Annual Revenue: $2,123,006, which is significant growth compared to previous years.
• Cash Flow (SDE): $217,526
• 2.25x Multiple
• ~$500,000 pre-contracted recurring revenue/$60,000 GPM
• Relatively low operational overhead
Expansion Opportunities:
• Third-party maintenance and repairs for orphan systems across the state
• Solar and storage system expansions and accessories
• Continued expansion of Illinois Shines SREC services for specialized program channels
• Strategic team expansion for installation and service capabilities
• Continued market growth in Illinois' continually expanding solar sector
Operational Infrastructure:
1,800 square foot facility in Lake County, Illinois with lease through August 2026 at $1,700 monthly. Assets include $10,000 inventory and $40,000 in fixtures and equipment.
Ideal Buyer Profile:
Seeking strategic acquisition by established solar industry entity looking to enter or expand in Illinois market. Comprehensive transition support available for up to 12 months of training and consultation, with seller open to an ongoing role in sales development and partnerships.
Asking Price: $490,000
60% Down Payment - $295,000
40% Seller Financing - $195,000
This dual entity company, with 10 years of market experience and strong local reputation, has primarily operated as residential and commercial solar developer, and recently expanding into Illinois Shines Approved Vendor solar credit and rebate management for installed systems across the state. The expansion of our new entity ilumen Consulting, LLC in 2024 added long term financial stability to the organization with pre-contracted 7-Year recurring revenue, niche revenue streams, while providing low customer acquisition costs for O&M services and system expansions for the primary construction entity, ilumen, LLC.
Complimentary Operations:
The foundational business operation is residential and commercial project development, with recent expansion to servicing and expanding 3rd party systems. The second entity, formed in 2024, offers strong diversification with contracted receivables, recurring revenue, and specialized/exclusive Illinois SREC services. This integration delivers low customer acquisition cost, better economics, and long-term stability.
Core Services:
• Residential and Commercial Development
• SREC Incentive and Rebate Asset Management
• System Engineering & Design Consultation
• Subcontracted Installation Services
• System Monitoring, Maintenance, and Repair
• Specialized Illinois Approved Vendor Revenue Streams
Competitive Differentiators:
• Strong Regional Reputation and Customer Retention
• Large & Complex Residential, Commercial, Energy Storage, Repairs & Maintenance
• Deep Expertise in Illinois Incentives (Illinois Shines & ComEd)
• Exceptional Customer Service and Support
• Organic Lead Generation Through Brand Reputation, Partners, and Referrals.
Market Advantages:
Operating in Illinois' top-tier solar market with strong demand, favorable state SREC policies, and substantial utility rebates.
Financial Highlights:
• Annual Revenue: $2,123,006, which is significant growth compared to previous years.
• Cash Flow (SDE): $217,526
• 2.25x Multiple
• ~$500,000 pre-contracted recurring revenue/$60,000 GPM
• Relatively low operational overhead
Expansion Opportunities:
• Third-party maintenance and repairs for orphan systems across the state
• Solar and storage system expansions and accessories
• Continued expansion of Illinois Shines SREC services for specialized program channels
• Strategic team expansion for installation and service capabilities
• Continued market growth in Illinois' continually expanding solar sector
Operational Infrastructure:
1,800 square foot facility in Lake County, Illinois with lease through August 2026 at $1,700 monthly. Assets include $10,000 inventory and $40,000 in fixtures and equipment.
Ideal Buyer Profile:
Seeking strategic acquisition by established solar industry entity looking to enter or expand in Illinois market. Comprehensive transition support available for up to 12 months of training and consultation, with seller open to an ongoing role in sales development and partnerships.
Asking Price: $490,000
60% Down Payment - $295,000
40% Seller Financing - $195,000
About the Business
- Years in Operation
- 9
- Employees
- 3 (2 Full-time, 1 Part-time)
- Facilities & Assets
- 18' Box Truck w. new 2,000lb lift gate (2017 Isuzu)
Fork Lift
Pallet Racking
(2) DJI Mavic 2 Drones
Miscellaneous Office Equipment - Website
- https://www.ilumen-solar.com/
- Market Outlook / Competition
- Illinois is considered a top-tier growth market for solar development due to the strong demand, state SREC incentive policy (Illinois Shines), and strong utility rebates. Our position in the marketplace is well diversified with the recent launch of our sister company which yields contracted 7-year recurring revenue. The foundation of the operation is transparent, detail oriented, and customer focused consultation. A large percentage of revenue is referral based with nearly zero advertising expenditure.
- Opportunities for Growth
- Continued expansion of services for 3rd party systems, such as repairs/maintenance, solar and storage expansions, and accessories.
Continued expansion of Illinois Shines Approved Vendor services for 3rd party systems for filing incentives through niche program channels (stranded customers, restitution program, and SREC adder programs).
Expansion of staff would likely be a small installation/service team and administration to build on the recent market expansion.
Real Estate
- Owned or Leased
- Leased
- Building Sq. Ft.
- 1,800
- Rent
- $1,700.00 per month
About the Sale
- Seller Motivation
- The operation is ready for new leadership to expand on it's current position.
- Transition Support
- We are only considering buyers that are already in the solar industry today, either locally or out of state interested in expanding to Illinois. Owner is flexible to negotiate and accommodate support and training for up to 12 months. Additionally, the owner is open to staying within the organization managing sales developments & partnerships, and potentially long term as a minority equity partner.
- Financing Options
- Seller Financing Available
Listing Info
- ID
- 2463472
- Listing Views
- 507
Attached DocumentsAttachment Disclaimer
Listing ID: 2463472 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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