Florida Firm Completes Acquisition of Conserdyne

Hughes Capital Corp. of Boca Raton, Fla., announced that it has completed its acquisition of Valencia-based Conserdyne, a “micro-utility” that provides discount-rate electrical power primarily from rooftop solar panels.

Hughes is a 6-month-old publicly held company that intends to arrange major financing for Conserdyne. The Santa Clarita Valley firm was founded in 1979 and had sales for its last fiscal year of $1.2 million. Hughes said it does not expect layoffs or changes in management at Conserdyne, which has 25 employees.