Polar Racking Deepens its Leadership in PV Mounting Systems with the Acquisition of Axsus Solar

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19 Jul, 2022, 06:30 ET

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Axsus' differentiated products, including Sol-X, widen Polar's footprint in the solar industry

MISSISSAUGA, ON, July 19, 2022 /PRNewswire/ - Today, Polar Racking, a North American leader in PV mounting systems, announced the acquisition of Axsus Solar, the solar division at Magna Closures Inc.

With the acquisition of Axsus Solar, Polar has added the Axsus Sol-X, a single-axis tracker, to their product line. Single-axis trackers are increasingly being used in solar power projects to maximize energy production. With its unique tracking capabilities, the Sol-X offers a best-in-class solution with a simple design that includes fewer components, a quick installation process, and less ground preparation on site.

"The addition of Axsus Solar to Polar Racking advances our strategy to bring differentiated solutions to our customers, supports our mission to provide clients with cost-effective, high-quality solar racking solutions, and supports the exponential growth of our business," says Vishal Lala, Managing Partner at Polar Racking. "We welcome the Axsus Solar team and suite of products to Polar, and we are confident that together, we will deliver innovative solutions for clients across North America and the Caribbean."

In addition to the Sol-X, Axsus brings a seasoned management team and workforce to complement Polar's team, with a strong proficiency in engineering, quality control, and project management, as well as additional product offerings.

A key leader on the management team is Robert Souliere, formerly a member of the Axsus team. "I'm delighted to be joining Polar and am looking forward to working collaboratively with the team in driving Polar's strategy forward," says Robert Souliere, newly appointed Director of Operations and Construction at Polar Racking. "The Sol-X is a great addition to the Polar product line and will expand our potential by giving us access to a market that's increasingly choosing trackers over fixed-tilt systems as a result of their higher revenue generation."

Polar has seen business activity growing exponentially in 2022, and this is only expected to expand with the addition of the Sol-X single-axis tracker. The combined teams have a total install base of over 3 GW, making them a leader in the world of solar mounting solutions. With this acquisition, the company strengthens its position in the solar industry, and Polar will continue to support its clients across North America and the Caribbean with leading racking solutions.

About Polar Racking

Founded in 2009 with offices in Ontario, New York, Polar Racking is a North American leader in PV mounting with a strong market share, specializing in commercial and utility-scale ground-mount, single-axis tracker, and carport solutions. With over 3 GW of PV mounting systems installed in North America and a pipeline of ~10 GW, Polar Racking is focused on developing innovative racking solutions that enable our clients to build and own systems at the lowest installed cost per kWh.

SOURCE Polar Racking