May 14, 2021

Clairvest Group's Acquisition of Sunpower Corporation

Goodmans LLP acted for Clairvest Group Inc. (TSX:CVG) (“CVG”), together with Clairvest Equity Partners VI (“CEP VI”) (together “Clairvest”), in connection with the acquisition of the solar operations and maintenance (“O&M”) business of SunPower Corporation (NASDAQ:SPWR). Upon closing the business will be renamed NovaSource Power Services (“NovaSource” or the “Company”).

NovaSource is a recognized O&M leader in commercial, industrial and utility scale solar projects. Clairvest is supporting the current leadership team of SunPower’s O&M division in a management buy-out, with the management team becoming material shareholders going forward. The SunPower O&M business, which will become NovaSource, is recognized as the market leader in terms of quality of service and capability and oversees some of the most high profile solar projects in the United States. NovaSource operates in nine countries today.

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