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…