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05/2026

SUNSYSTEM TECHNOLOGY acquired by OTOVO

UNITED STATES Power Generation / Renewables / Solar / PV EV 0M - 15M USD

Context

Euronext Oslo-listed energy services provider Otovo ASA has executed a non-binding letter of intent to acquire 100% of the U.S.-based solar operations and maintenance firm SunSystem Technology, LLC (SST). Subject to satisfactory due diligence completion and definitive agreement executions, this cross-border buyout marks Otovo's seventh accretive M&A transaction completed since December 2025. For the acquirer, the transaction expands Otovo's geographic footprint in the United States by establishing a coast-to-coast asset management and service platform. SST delivers a 10-year operating history specializing in post-installation PV services, distributed generation asset management, energy storage infrastructure, and EV charging station networks. The industrial rationale focuses on capturing operational synergies by migrating SST’s multi-state field operations onto Otovo’s proprietary Endurance™ AI platform. This integration will automate client intake, technician dispatching, workflow scheduling, and supply chain logistics. By layering this advanced software architecture over SST's existing operations across 14 U.S. states, the joint enterprise scales its service capacity for residential portfolios, commercial system owners, equipment OEMs, and institutional asset managers.

SUNSYSTEM TECHNOLOGY, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN.

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

Target

SunSystem Technology is a solar operations and maintenance (O&M) and asset management company with over 10 years of experience in post-installation PV services, ensuring optimal financial performance of solar assets. The company has set the standard for the solar industry in servicing distributed generation, EV charging, and storage systems, and is known for its innovative and agile approach, which has created clear market leadership with significant scale and robust national coverage for residential portfolios, commercial system owners, asset managers, and EV charging station networks. SunSystem Technology provides O&M and asset management services for distributed generation, EV charging, and storage systems, and is recognized for its ability to deliver high-quality services to its customers.

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Historical Financials (USD)

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2025
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2024
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REFERENCES

Valuation range: EV 0M - 15M USD

Revenue range: 5M - 25M USD

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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: sunsystem technology

Acquirer: otovo