“Solar Spectrum” new name of Sungevity

Solar Spectrum, new name given to Northern Pacific Group acquired Sungevity as per sale approved by bankruptcy court. The investment group includes Hercules Capital of Palo Alto and DGB Investments, a wholly owned investment vehicle of Douglas Bergeron, former VeriFone chairman and CEO.

As per the terms of the transaction, Solar Spectrum has acquired Sungevity’s infrastructure, technology, installer network, supplier warranties and certain agreements. Solar Spectrum intends to hire the substantial majority of current Sungevity employees. The company has also acquired Sungevity’s European businesses and will continue to operate them under their current branding.

Patrick McGivern (CEO) and William Nettles, ( President and COO.) will lead Solar Spectrum’s management team. Mr. McGivern is the former head of operations at Fitbit and  Mr. Nettles is the former GM and head of acquisitions at VeriFone.

Solar Spectrum’s leadership will work with Northern Pacific Group to leverage its capital base and build a sustainable business that creates value for the company’s employees, partners and customers.