Investment Summary

Millstone Capital Advisors, Compass Group Equity Partners and TGP Investments Invest In Sunpro

On October 19, 2020, private equity firms Millstone Capital Advisors, Compass Group Equity Partners and TGP Investments invested in renewable energy company Sunpro

Investment Highlights
  • This is Millstone Capital Advisors’ 1st, Compass Group Equity Partners’ 1st and TGP Investments’ 2nd transaction in the Renewable Energy sector.
  • This is Millstone Capital Advisors’ 5th, Compass Group Equity Partners’ 10th and TGP Investments’ 9th transaction in the United States.
  • This is Millstone Capital Advisors’ 1st, Compass Group Equity Partners’ 1st and TGP Investments’ 2nd transaction in Louisiana.
Investment Fate
  • Sunpro was sold to a publicly-traded strategic buyer in 2021 for 825M USD.

Investment Summary

Date 2020-10-19
Target Sunpro
Sector Renewable Energy
Investor(s) Millstone Capital Advisors
Compass Group Equity Partners
TGP Investments
Deal Type Growth Capital

Target

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.

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Investor(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 5 of 6
Sector: Renewable Energy M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 2
State: Louisiana M&A 1 of 1
Country: United States M&A 5 of 6
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-25 The Printing Source

St. Louis, Missouri, United States

The Printing Source is a commercial printer Initially a print brokerage business, the company quickly increased in size along with its commitment to quality. The Printing Source enhanced its reputation by beginning to manufacture printed products in house to meet the needs of a changing marketplace. The Printing Source was founded in 1987 and is based in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 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.

Sell $825M
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 10 of 18
Sector: Renewable Energy M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 5
State: Louisiana M&A 1 of 2
Country: United States M&A 10 of 18
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Pacesetter Health

St. Louis, Missouri, United States

Pacesetter Health is a practice management group focused on partnering with best-in-class lower extremity care clinics throughout the United States. Pacesetter looks for doctors who are the staples of their community; for doctors with leading practices who want to grow and further improve the businesses they have built – but need a helping hand to achieve these goals. Pacesetter Health was founded in 2020 and is based in St. Louis, Missouri.

Buy -
FOLLOWING 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 -
Investor

TGP Investments

Kansas City, Missouri, United States

Investor Investor


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 9 of 11
Sector: Renewable Energy M&A 2 of 2
Type: Growth Capital M&A Deals 3 of 3
State: Louisiana M&A 2 of 2
Country: United States M&A 9 of 11
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 ADT Solar

Mandeville, Louisiana, United States

ADT Solar is a marketer and installer of residential solar systems and related products. ADT Solar is based in Mandeville, Louisiana.

Buy -
FOLLOWING 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 -