RM Capital acquires ISO Solar to expand clean energy in Puerto Rico
The transaction will support the company’s expansion amid rising demand for solar energy on the island.
RM Capital Partners (RMC) has acquired Integrated Solar Operations, known as ISO Solar, a company that provides turnkey solar energy systems for residential, commercial and government clients in Puerto Rico.
Financial terms of the deal were not disclosed.
Officials said the acquisition positions ISO Solar for growth as Puerto Rico’s energy sector continues shifting toward more resilient and sustainable sources.
Founded in 2013, ISO Solar offers engineering, design, installation, repair and maintenance services for solar systems. It serves more than 6,000 customers across the island and has received recognition from Solar Power World for operational performance and service.
“We specifically chose to partner with RMC due to its invaluable expertise spanning solar, project finance, and renewable energy, while also understanding the importance of our employees and team culture as driving forces of ISO Solar’s success,” said Ralph Díaz, founder of ISO Solar.
“We’re confident solar will power Puerto Rico’s future, and RMC will help us achieve our goal of providing access to clean, reliable, and affordable energy to all Puerto Ricans,” he said.
RMC’s strategy focuses on helping ISO Solar scale in response to growing demand for energy reliability and cost savings, particularly amid continued power outages and rising electricity prices on the island.
“Ralph and his team have built a truly best-in-class business,” said Ruslan Matveyev, managing partner of RM Capital Partners. “We’re excited to expand on ISO Solar’s tremendous accomplishments by leveraging the company’s reputation, relationships and capabilities while further investing in people, products, services and infrastructure.”
RMC plans to broaden the company’s product line, invest in infrastructure and maintain a focus on operations. The expansion is designed to help meet demand for energy systems that operate independently of Puerto Rico’s central grid, which has faced persistent issues despite federal reconstruction efforts after Hurricane Maria.
As part of the transition, Francisco González-Ohárriz will become CEO. He brings more than a decade of experience in solar energy and business development. Díaz will remain involved as a board member to support the transition.
