MARS Energy Group Acquires U.S. Rooftop Solar Company Citadel

en.Wedoany.com Reported - MARS Energy Group, a diversified energy and infrastructure platform, announced the acquisition of Citadel Roofing and Solar, headquartered in Northern California, U.S. The specific financial terms of the transaction have not been disclosed.

MARS Energy Group stated that this partnership will bring complementary strengths to both companies, establishing a service platform for California contractors and homeowners. The transaction will add more than 1,000 employees to MARS' solar resource platform.

Manvendra Saxena, founder, chairman, and CEO of MARS Energy Group, stated that Citadel was a "destined" partner. Citadel President Dieter Folk and his team have built a company known for operational excellence, strong customer relationships, and outstanding corporate culture. The two sides discovered a high degree of alignment in values and vision during their first communication.

Citadel Solar and Roofing was founded in 2015, and its industry veteran team brings decades of experience. MARS executives noted that the company's reputation makes it an attractive acquisition target, consistent with the platform's direction of bringing West Coast market leaders into its fold.

Saxena added that this partnership is not about changing what made Citadel successful, but about investing in it and continuing to build on that platform, preserving key talent, culture, and customer focus.

The new partnership expands MARS' presence in California, further strengthening its platform footprint in the residential roofing sector. For Citadel, its Northern California market presence complements the overall capabilities of MARS Energy Group.

Dieter Folk stated that this transaction represents an "exciting new chapter" for the company. He and other members of the management team will continue to have full control over company operations, and customers will continue to work with the same team. Folk noted that joining the platform provides the company with additional resources, operational support, and room for continued growth, while preserving the values and customer relationships that made Citadel successful. Employees, customers, and partners can expect the same team and the same commitment to excellence, now backed by a stronger platform.