OSW, one of Australia’s largest wholesale solar distributors and subsidiary of GCL Integrated Holdings has today announced a successful Series A funding round of AU$51 million, providing a capital war chest for international expansion and reinvigoration of products and service offerings locally.
As part of the strategic investment, Hillhouse Investment, a global private equity firm with a focus in Asia, has acquired AU$27 million worth of shares from GCL Integration, with an additional AU$24 million capital injection into the Australian firm.
The investment is designed to fortify OSW’s rapid global expansion. Recent openings of distribution centres in Poland, Netherlands and Texas are soon to be followed by additional locations in Texas, Germany and France in 2023. This evolution is a result of the direct demand OSW has determined for its C&I offerings in the European and US markets.
Hillhouse Investment’s support would further enhance OSW’s revolutionary and newly unveiled energy value chain. The amalgamation of software capabilities, technologies and solutions - in particular in areas such as Virtual PowerPlants (VPP) and Electric Vehicles (EVs) - captures the essence of the organisation's capacity.
Anson Zhang, Co-Founder and CEO of OSW, believes the deal represents tremendous opportunities both locally and overseas.
“We’re seeing incredible demand for sustainable energy solutions and for countries like Australia, which enjoys an abundance of sunshine, solar power generation has to be at the forefront,” said Zhang. “Through expanding our network we seek to bring to market an even greater portfolio of new and innovative solutions that will help our customers meet the growing demands.”
“Internationally, we’re seeing a similar story and firmly believe that solar power generation will play a critical role in society for years to come. The future is bright,” he added.
“We are excited to support the passionate entrepreneurs at OSW as they pursue this endeavour. Sustainable energy solutions are key to achieving the goal of carbon neutrality and we are enthusiastic about the role OSW could play in this global effort,” said Hillhouse Investment.
Founded in 2005, Hillhouse Investment is an Asia-focused private equity firm of investment professionals and operating executives who are focused on building and investing in high quality business franchises that achieve sustainable growth. Hillhouse partners with exceptional entrepreneurs and management teams to create value, often with a focus on innovation and growth. Hillhouse manages assets on behalf of institutional clients from across the globe.
OSW is Australia’s largest Solar Distributor, stocking everything from PV Panels, Inverters, Solar Storage options to racking, components, and all electrical needs. At the core of OSW, we are focused on providing One Simple Way to deliver sustainable and innovative solar solutions. OSW is also listed amongst the top 500 privately listed companies and recognised as one of Australia’s fastest-growing 100 companies by the Australian Financial Review.
