M&A Deal Summary

ADT Acquires Sunpro

On November 9, 2021, ADT acquired renewable energy company Sunpro from Millstone Capital Advisors, Compass Group Equity Partners and TGP Investments for 825M USD

Acquisition Highlights
  • This is ADT’s 1st transaction in the Renewable Energy sector.
  • This is ADT’s 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 Sunpro
Sector Renewable Energy
Buyer(s) ADT
Sellers(s) Millstone Capital Advisors
Compass Group Equity Partners
TGP Investments
Deal Type Add-on Acquisition
Deal Value 825M USD
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Vinson & Elkins (Legal)

Target

Sunpro

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

Boca Raton, Florida, United States

website


Category Company
Founded 1874
Sector Safety/Security
Employees22,000
Revenue 6.4B USD (2022)
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 incorporated 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

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

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

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 Sunpro

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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 Patterson Mold and Tool

Saint Charles, Missouri, United States

Patterson Mold and Tool is a designer and manufacturer of complex tooling for the die casting industry. The company provides engineering support and collaborates with die casting providers and their end customers, from prototype development to production tooling, and provides tool and die repair and refurbishment services. In addition, Patterson utilizes its machining expertise to manufacture precision metal components and assemblies for diverse end markets including aerospace and communications. Patterson Mold and Tool was founded in 1978 and is based in Saint Charles, Missouri.

Buy -
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 $20 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 2015 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 4 of 6
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Louisiana) 1 of 1
Country (United States) 4 of 6
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-16 New Age Medical

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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Resolve Pain

Atlanta, Georgia, United States

Resolve Pain is a healthcare management service organization that aims to help interventional pain management practices reduce their administrative burden. The organization provides efficient and effective solutions to empower their partners so they can focus on providing high quality care to their patients. Resolve Pain Solutions has specialized departments that cover different areas such as billing, marketing, operations, human resources, finance, compliance, and accounting. Resolve Pain is based in Atlanta, Georgia.

Buy -
SELLER

TGP Investments

Kansas City, Missouri, United States

Investor Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 57M USD
Size Small
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

Cromwell, Connecticut, United States

Northeast Quality 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 was founded in 1979 and is based in Cromwell, Connecticut.

Buy -