Founder Transfers Ownership of Local Solar Company (Dubuque, IA)
Turning Over the Reins
A decade after founding Eagle Point Solar LLC, the longtime owner and environmental evangelist of a Tristate solar business has turned over the reins to a new, local ownership group.
Barry Shear founded Eagle Point Solar in 2010. During this period, Shear led and built the foundation and strategic growth initiatives for the Dubuque, Iowa business. Fast-forward ten years, the business now employs 75 staff members operating from three office locations in the Tristate area. Additionally, throughout this period, Eagle Point Solar has broadened their footprint to serve a wider array of industries and expanded their territory coverage in Iowa, Illinois and Wisconsin.
Shear sold Eagle Point Solar to a group of four experienced employees and two local investors. The business is now owned by Eagle Point Solar team members; Jim Pullen, Randy Ambrosy, Larry Steffen and Tod Hollenback. The four new owners have a combined 20 years of experience with the company. Dennis Buchheit and Toben Murdock bring financial support to the new ownership group. Buchheit and Murdock currently own and operate The New Eagle Group headquartered in Dubuque, Iowa.
“It’s always been my long-term plan to have a group of employees take over when I move into retirement,” Shear said. “With a strong leadership team in place with advanced expertise in solar energy development and the hypergrowth of the industry, now is a great time to allow Eagle Point Solar to soar to the next level. These guys are the perfect group to lead the future of designing, engineering and building the highest quality renewable energy solar arrays around.”
Continuity is Important
“Collectively, as an ownership group, we want to keep the environmental stewardship and culture of Eagle Point Solar the same,” Pullen said. “We’ve been around here a long time and have established solid relationships and a strong brand of being the Midwest leader in solar and solar plus storage renewable energy systems. We didn’t want to see someone else come in and take it over…continuity is important in this type of leadership change,” stated Pullen.
Steffen stated, “Eagle Point Solar has grown rapidly over the past four years, nearly doubling staff size each year to support a 400% sales increase and our growing client base. The demand for renewable energy continues to surge in the Tristate area and across industries such as agriculture, residential homeowners, commercial businesses, academic institutions, non-profit organizations, municipalities and local utilities…to name a few.”
Creating Renewable Energy Jobs
Creating jobs in the renewable energy industry within the Dubuque area has become a point of pride at Eagle Point Solar. “We have excellent team members at all levels of the organization. Our staff maintains an extensive number of certifications, hold advanced degrees, offer decades of experience and exude a passion to make a positive impact for our clients and environment. From conception to completion, our projects are designed and built with highest levels of expertise in the industry. I’m proud to help lead such a progressive team,” Hollenback said.
Ambrosy, the newest member of the ownership team stated, “The entrepreneurial spirit here is amazing to experience. The mindset of our team members is to continually embrace and overcome construction and electrical challenges as solar materials advance, all while working to improve all levels of our company with each new build. Business opportunities like this don’t come along often. When you have the right mix of staff, it makes the ownership decision much easier.”
“Investing was a natural fit for our portfolio of businesses. I have always been an advocate of the financial and environmental benefits which solar technology provides. Ownership within a strong and reputable industry leader, such as Eagle Point Solar, provides an opportunity to be part of the expansive renewable energy industry and provide emerging and rewarding green sector jobs to our local economy,” stated Buchheit.