M&A Deal Summary

ADT Acquires Marc Jones Construction

On November 9, 2021, ADT Inc. acquired renewable energy company Marc Jones Construction LLC from TGP Investments LLC, Millstone Capital Advisors, LLC. and Compass Group Equity Partners for 825M USD

Acquisition Highlights
  • This is ADT’s 1st transaction in the Renewable Energy sector.
  • This is ADT’s 1st largest (disclosed) transaction.
  • This is ADT’s 20th transaction in the United States.
  • This is ADT’s 1st transaction in Louisiana.

M&A Deal Summary

Date 2021-11-09
Target Marc Jones Construction LLC
Sector Renewable Energy
Buyer(s) ADT Inc.
Sellers(s) TGP Investments LLC
Millstone Capital Advisors, LLC.
Compass Group Equity Partners
Deal Type Add-on Acquisition
Deal Value 825M USD
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Vinson & Elkins LLP (Legal)

Target

Marc Jones Construction LLC

Mandeville, Louisiana, United States
website
Sunpro is a provider of rooftop solar systems in the United States. Sunpro markets, designs, sells, installs, and maintains solar power systems on residential and commercial properties through their 3,600-person, full-time workforce of solar energy professionals with 56 locations in 22 states. Sunpro was founded in 2008 and is based in Mandeville, Louisiana.

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Buyer(S) 1

Buyer

ADT Inc.

Boca Raton, Florida, United States

website


Category Company
Founded 1874
SectorSafety/Security
Employees20,500
Revenue 5.3B USD (2020)
DESCRIPTION
ADT's corporate headquarters in Boca Raton, Florida.
ADT's corporate headquarters in Boca Raton, Florida.

ADT is a provider of security and automation solutions for homes and businesses in the United States and Canada. ADT's broad and pioneering set of products and services, including ADT Pulse® interactive home and business solutions, and health services, meet a range of customer needs for today’s active and increasingly mobile lifestyles. ADT was originally established in 1874 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 23 of 23
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 21 of 21
State (Louisiana) 1 of 1
Country (United States) 20 of 20
Year (2021) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 CLS Technology, Inc.

Katy, Texas, United States

CLS Technology, located in Katy, Texas, has served the metropolitan Houston area and surrounding communities for 15 years. Located 30 miles west of Houston, CLS Technology’s team specializes in installing, inspecting, and maintaining fire alarm, video surveillance, access control, intrusion detection, emergency notification systems, and intercom and sound reinforcement systems across a variety of commercial environments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-03 Datashield LLC

Scottsdale, Arizona, United States

Datashield is a provider of cyber security solutions in conjunction with managed detection and response services across all industries including healthcare, financial services, manufacturing, energy, legal, and many more. Datashield provides cybersecurity solutions in conjunction with managed detection and response services across all industries, including healthcare, financial services, manufacturing, energy, legal, and many more. Datashield was founded in 2009 and is based in Scottsdale, Arizona.

Sell -

Seller(S) 3

SELLER

TGP Investments LLC

Kansas City, Missouri, United States

Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 57M USD
SizeSmall
Type Sector Agnostic
DESCRIPTION

TGP Capital Partners is a private equity fund that makes middle-market investments in profitable, growing companies. TGP primarily targets opportunities located in the Midwest US. TGP will consider both control and minority investments in manufacturing and business service companies with annual revenues of $15 to $50 million. Prospective transaction situations include industry consolidations, management buyouts, acquisitions, and growth financings. The fund is managed by TGP Investments, a Kansas City, Missouri based merchant bank.


DEAL STATS #
Overall 4 of 4
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Louisiana) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Northeast Quality Services LLC

Cromwell, Connecticut, United States

Northeast Quality Services is a provider of precision machining and assembly services. The company has a wide variety of machining capabilities, including multi-turret lathes, swiss, and turn/mill lathes, along with horizontal and vertical milling capabilities. Northeast Quality Services was founded in 1979 and is based in Cromwell, Connecticut.

Buy -
SELLER

Millstone Capital Advisors, LLC.

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2013
SizeSmall
Type Sector Agnostic
DESCRIPTION

Millstone Capital Advisors LLC is an investment firm focused on providing equity and strategic assistance to small and mid-sized companies. Prospective transaction types include management buyouts and growth financings. Sectors of interest include manufacturing, financial services, infrastructure, healthcare, and IT. Millstone Capital Advisors was formed in 2013 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Louisiana) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 Marc Jones Construction LLC

Mandeville, Louisiana, United States

Sunpro is a provider of rooftop solar systems in the United States. Sunpro markets, designs, sells, installs, and maintains solar power systems on residential and commercial properties through their 3,600-person, full-time workforce of solar energy professionals with 56 locations in 22 states. Sunpro was founded in 2008 and is based in Mandeville, Louisiana.

Buy -
SELLER

Compass Group Equity Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2014
SizeSmall
Type Sector Agnostic
DESCRIPTION

Compass Group Equity Partners is a private equity firm focused on lower middle-market companies. The Firm looks to invest between $1 to $15 million for companies generating sales of $10 to $100 million. Prospective transaction types include management buyouts, growth financings, and stake purchases. Sectors of interest include manufacturing, distribution, and business services. Compass Group was formed in 2014 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 4 of 4
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Louisiana) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-16 New Age Medical LLC

Chesterfield, Missouri, United States

New Age Medical is a value-add distributor of spinal implant and orthopedic products to ambulatory surgery centers, hospitals, and hospital systems throughout the Midwest. New Age Medical was founded in 2012 and is based in Chesterfield, Missouri.

Buy -