Real Goods Solar Buying Mercury in East Coast Expansion Plan

Real Goods Solar Inc., the U.S. photovoltaic panel installer whose shares have more than tripled this year, agreed to buy closely held Mercury Energy Inc. to pursue East Coast customers.

Real Goods will issue 7.9 million shares to acquire Port Chester, New York-based Mercury, the Louisville, Colorado-based company said in a statement today. The deal is subject to approval from both companies’ shareholders. Mercury generated $35 million in sales last year, has about $10 million in cash and no debt.