GT Equipment Technologies Sells Majority Stake

With growth in the solar industry at all-time highs, a New Hampshire-based company that manufactures the variety of hardware for the manufacturing of solar photovoltaic cells has sold a majority interest in the company.

The investment by Angeleno Group in GT Equipment Technologies is part of the recently announced acquisition of a majority stake in GT, led by GFI Energy Ventures. While this acquisition marks GFI’s first investment in the solar market, Angeleno said it is part of a longer-term strategy of investing in high-growth clean energy companies. “Our stake in GT,” said Yaniv Tepper, Managing Partner of the Angeleno Group, “represents an investment in a company with world-class technical expertise in mono- and polycrystalline silicon. In addition to GT’s technological edge, the solar market continues to experience strong secular growth and we are excited about GT’s strong position to grow along with that market.” Angeleno Group is a private equity firm focused on high-growth investments in the energy sector. Areas of particular interest include advanced generation and power quality, renewables, energy intelligence and control, transmission and distribution, power storage, and advanced fuel technologies. “We are delighted Angeleno has partnered with us to invest in GT,” said Lawrence Gilson, Chairman of GFI Energy Ventures. “Angeleno’s technology-oriented expertise and their relationships in the energy industry will be a catalyst for success.” GFI invests in profitable businesses providing the equipment, software, services, and systems needed by utilities, other energy companies, and their largest customers to generate, transmit, manage, measure and consume energy at a time of major sector change. “The GFI/Angeleno relationship gives us substantial added expertise to anticipate and address our customers’ needs technologically and the resources to expand our operations to meet the market’s growth,” said Dr. Kedar Gupta, co-founder and CEO of GT. GT Equipment Technologies is in the design, manufacture, and installation of turnkey manufacturing lines for wafers, cells and solar modules.

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