TGP Capital Partners II, LLC sells interest in SunPro Solar
December 2021
Kansas City, MO –
TGP Investments II, LLC (“TGP”), the manager of private equity investment fund TGP Capital Partners II, LLC (the “Fund”), is pleased to announce that the Fund has sold its interest in SunPro Solar (“Sun-Pro”), to ADT, Inc. (www.adt.com).
ADT Inc. (NYSE: ADT), the most trusted brand in smart home and small business security, announced an agreement to acquire Sunpro Solar (Sunpro), ranked #2 for 2021 Top Residential Rooftop Solar Contractors1 in the U.S., for $160 million in cash plus approximately 77.8 million shares of ADT common stock, implying a total enterprise value of approximately $825 million, subject to certain adjustments. ADT will rebrand Sunpro to “ADT Solar” and enter the rooftop solar business to offer ADT customers a protected, connected, and now powered home.
Shane Parr, TGP Managing Director, stated “We are very happy with the outcome of the sale of SunPro to ADT. The growth and execution that the SunPro management team achieved during our ownership was very impressive. Marc Jones, the CEO at SunPro, did a tremendous job building the business and ADT is the perfect partner to continue to scale the business throughout the US.”
About TGP Capital Partners
Kansas City-based TGP Capital Partners, LLC and TGP Capital Partners II, LLC are private equity investment funds formed to make investments in well-managed, profitable and growing middle-market companies. TGP is a sponsor of quality managers and management teams with a goal of supporting and facilitating management’s growth initiatives and, as a result, maximizing returns for all shareholders. The fund seeks to make both control and minority equity investments in partnership with proven management talent in manufacturing, distribution, and business services companies.
For More Information
Shane C. Parr
TGP Investments, LLC
4900 Main St. Ste. 900
Kansas City, MO 64112
816-994-8603
https://www.tgpinvestments.com