AMP Smart, a Lehi home automation and security company, has acquired Titanium Solar, a residential solar installer based in Rancho Cucamonga, California. The transaction was financed by AMP Smart’s existing investors, Seacoast Capital of San Francisco and Los Angeles-based St. Cloud Capital.
In a release, AMP Smart, a top 10 U.S. smart home company, according to SDM Magazine, said Titanium is one of the fastest-growing solar installers in the United States and that together the two companies now offer a range of products and services that includes roof-top solar, meter monitoring, smart thermostats, video surveillance, feature-rich smart home panels, automated lights and door locks and a full suite of monitored security products.
“This merger was very strategic,” said Allen Bolen, AMP’s executive chairman. “AMP’s operational strength, combined with Titanium’s powerhouse sales engine, creates an ideal platform to drive growth.”
The company is actively re-cruiting new sales and operations employees to take advantage of the rapid expansion in the smart home and solar industries, according to Titanium CEO Josh Sutherland. “I believe our growth will continue to accelerate and may even surpass 50 percent in 2023. We look forward to hiring people in a challenging economy, and we plan on healthy expansion throughout the year,” he said.
AMP Smart currently operates in 21 states from California to New York. The company was founded in 2008 by Bolen and his brother Dave Bolen, the company’s chief operating officer.