Resun Corporation, located in Dulles, Virginia, today announced the completion of new debt and equity financings to support the company’s long-term growth plans. Resun is one of the nation’s largest providers of modular solutions serving the diverse end-markets of education, commercial, government, and healthcare throughout the United States.

The new credit facility was underwritten and syndicated by Bank of America and has total availability of $350 million. The equity capital was provided by existing investors Fremont Partners, a San Francisco based private equity firm, and ABS Capital, a Baltimore based private equity firm.

Charles Paquin, Resun CEO, said “the new financings will support our growth plans for the next three to five years. Resun will continue the expansion of our lease portfolio and related service offerings through new designs targeted at both our traditional and new growth markets. We at Resun continually strive to offer our customers best in class products and services to meet their needs and requirements.”

Mr. Paquin further stated that “with the new financing, the Company’s balance sheet is strongly capitalized with a debt to equity ratio of less than 1:1. Resun believes this to be the strongest balance sheet amongst the industry's large players. The Company plans to deliver high quality products and services to its customers while achieving reasonable long-term revenue and earnings growth.”

For further information, contact Stephen Gray, Resun CFO, at 703-661-6190.