IPS Solar will become part of Allete after $165 million deal

A double acquisition announced Thursday had Roseville, Minnesota-based IPS Solar’s ownership move to Maryland — and then immediately back to Minnesota.,

ISP Solar, which develops and installs solar energy systems, was acquired by New Energy Equity of Maryland — which in turn was bought this week by Duluth’s Allete Inc.

IPS will keep its branding and Roseville headquarters after Allete’s $165 million deal for New Energy.

“The IPS team is excited to join New Energy Equity and the Allete…


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