Solar Shop Australia has sold an 18.1 % stake of its business valued at $39 million US ($50 million AUS), to Harbert Australia Private Equity, a subsidiary of U.S.-based Harbert Management Corporation. This is the first investment by the Harbert Australia Private Equity Fund.

The Solar Shop claims to be the largest provider of grid-connected solar systems in Australia, installing one in four of the solar PV systems put into Australian homes in 2008. (Source: News, May 25, 2009)

Contact: Solar Shop Australia, www.solarshop.com.au; Harbert Management Corporation, www.harbert.net.