Angeleno Group has invested in GT Equipment
Technologies, Inc. (GT), a worldwide leader in the design,
manufacture, and installation of turnkey manufacturing lines for
wafers, cells and solar modules. The announcement was made by Yaniv
Tepper, Managing Partner of the Angeleno Group and GT's CEO Dr. Kedar
Gupta today at Angeleno's annual investment conference. The investment
is part of the recently announced acquisition of a majority stake in
GT, led by GFI Energy Ventures, in partnership with Angeleno Group.
Terms of the acquisition were not disclosed. This acquisition marks
GFI's first investment in the solar market, and is part of Angeleno's
longer term strategy of investing in high-growth clean energy
companies.
"Our stake in GT 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," said Yaniv Tepper, Managing Partner of the Angeleno Group. "We look forward to working with GT and our colleagues at GFI Energy Ventures to realize this potential."
"We are very excited to be partnering with GFI and Angeleno," said Dr. Kedar Gupta, co-founder and CEO of GT. "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."
Lawrence Gilson, Chairman of GFI Energy Ventures, stated, "We are delighted Angeleno has partnered with us to invest in GT. Angeleno's technology-oriented expertise and their relationships in the energy industry will be a catalyst for success."
About GT Equipment Technologies
GT Equipment Technologies (www.gtequipment.com) is an industry leader in the design and manufacture of semi-custom and specialty equipment for the solar and materials processing industries, particularly for photovoltaic and semi-conductor applications. The Company's turnkey manufacturing lines and furnaces are used by blue-chip companies worldwide. GT is based in Merrimack, New Hampshire.
About Angeleno Group
Angeleno Group (www.angelenogroup.com) is a Los Angeles-based private equity firm focused on high-growth investments in the energy sector. Angeleno makes investments broadly across the energy industry to support innovative, well-managed, early-to-expansion stage companies. Areas of particular interest include: advanced generation and power quality, renewables, energy intelligence and control, transmission and distribution, power storage, and advanced fuel technologies.
About GFI Energy Ventures
GFI Energy Ventures LLC (www.gfienergy.com) is a private equity firm that has initiated and led over 45 investments in the energy sector over the past ten years. GFI is the co-general partner with Oaktree Capital Management of the approximately $1.5 billion OCM/GFI Power Opportunity Funds. GFI invests exclusively in successful, 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. GFI is based in Los Angeles, California.
"Our stake in GT 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," said Yaniv Tepper, Managing Partner of the Angeleno Group. "We look forward to working with GT and our colleagues at GFI Energy Ventures to realize this potential."
"We are very excited to be partnering with GFI and Angeleno," said Dr. Kedar Gupta, co-founder and CEO of GT. "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."
Lawrence Gilson, Chairman of GFI Energy Ventures, stated, "We are delighted Angeleno has partnered with us to invest in GT. Angeleno's technology-oriented expertise and their relationships in the energy industry will be a catalyst for success."
About GT Equipment Technologies
GT Equipment Technologies (www.gtequipment.com) is an industry leader in the design and manufacture of semi-custom and specialty equipment for the solar and materials processing industries, particularly for photovoltaic and semi-conductor applications. The Company's turnkey manufacturing lines and furnaces are used by blue-chip companies worldwide. GT is based in Merrimack, New Hampshire.
About Angeleno Group
Angeleno Group (www.angelenogroup.com) is a Los Angeles-based private equity firm focused on high-growth investments in the energy sector. Angeleno makes investments broadly across the energy industry to support innovative, well-managed, early-to-expansion stage companies. Areas of particular interest include: advanced generation and power quality, renewables, energy intelligence and control, transmission and distribution, power storage, and advanced fuel technologies.
About GFI Energy Ventures
GFI Energy Ventures LLC (www.gfienergy.com) is a private equity firm that has initiated and led over 45 investments in the energy sector over the past ten years. GFI is the co-general partner with Oaktree Capital Management of the approximately $1.5 billion OCM/GFI Power Opportunity Funds. GFI invests exclusively in successful, 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. GFI is based in Los Angeles, California.